MICROCAP.COM - email update excerpt
date: Thu, Nov 1, 2012 at 10:30 AM
subject: Cmk Pec Rb Can Mei Bqe Esp Aox
Our deep gas play in Portugal is taking longer than expected to release news. October 9th they stated in a news release "Porto anticipates its drilling operations at the ALC-1 well to reach total depth within the next two weeks.". In theory they were into the target zone a week ago and I would have expected us to see speculation - either positive or negative this week. Other than a quick run through 25 cents, it has been uneventful.
This is a tough one to interpret. Normally information would leak out or the company would issue some type of update by now. If they are keeping it close to the chest and a person sells, we could see positive news within a week - or just the opposite. I am quite concerned at this stage that any abnormal selling volume will be interpreted as bad news and start a flood of selling - which may be premature.
I wish I had a more clear suggestion but considering we are up over 200%, a person will want to be sure they have taken "something" off the table by now. Trying to sell at this stage is just as hard as taking the plunge to buy this summer.