Well, we got it as a speculative buy from 24 cents in March, it’s getting more traction and higher prices, and things really could turn quite interesting over the next couple of months..
There are also some rumors on message boards that Soros is involved in this company as well, but we cannot confirm that. It wouldn’t be a big surprise, given that their most important property is in Albania, and given Soros background and interest in energy investment (witness his recent 1.8M+ share purchase in InterOil).
Here is the research report from Cohen MNAP 08-26-09
It’s an interesting read, with interesting price targets…
Remember though, this is definitely the high-risk, high-reward type of company, don’t bet the bank on it. We do have to say that with five different license areas, the risk is somewhat mitigated though. And if the Albania property does indeed contain even half of those 5.5 billion barrels of oil, than this could easily be a multibagger.