anyone remember Blue Dolphin Energy?

Question

BDCO had a big % pop tuesday 6-15 on news. near a multi-year low and only 12 million shares out. was over $8 in early 2006. could be worth a trade....&#xD;&#xA;ref: https://www.marketwatch.com/story/blue-dolphin-signs-commitment-letter-to-acquire-majority-working-interest-in-indonesian-assets-2010-06-15

LeRinkRat · Answer

BDCO had a big % pop tuesday 6-15 on news. near a multi-year low and only 12 million shares out. was over $8 in early 2006. could be worth a trade....&#xD;&#xA;ref: https://www.marketwatch.com/story/blue-dolphin-signs-commitment-letter-to-acquire-majority-working-interest-in-indonesian-assets-2010-06-15

wallstreetcappers · Answer

rat,That news today seems wacky honestly..So there are 12M shares out, market cap at 4M and they are issuing twice the value of the company in shares for a 70% working interest, then an additional 16M shares if production goals are met?So the float could go from 12M to 52M and they ramp it up like that?Crazy...

LeRinkRat · Answer

true it&#x27;s a big jump in shares BUT they sure have the "cap space" to do it AND they get that 70% Indonesia interest for NO money. I"m sure the plan is to develope that TAC Langsa area and then probably sell to a "big dog" major. that&#x27;s the usual battle plan for small operators.&#xD;&#xA;stock popped some more early wednesday. hit 0.61 out of the box. current 0.48 &#x2B;0.10. another nice % move.

LeRinkRat · Answer

dipped down to 0.42 midday wednesday BUT came on last hour to close @ 0.52 + 0.149 for the day on 3.4 + million shares.

hopefully continues higher. as long as the volume holds up should be OK BUT....

STEELDRC · Answer

BOL

anyone remember Blue Dolphin Energy?

Hot Forum Topics