Thursday, May 15, 2008

Most of the Lowland plays were screaming today

On no news whatsoever, the lowland plays bottomed today and reversed a 3 day trend of losses to post solid gains. PCQ announced after the close that they had taken a 30% interest in Squatex, a private company with land adjacent to Molopo on the eastern edge of the land Forest Oil shows as prospective. They needed the funds in part to renew their permits and decided to farm-out some of their land to PCQ. Word may have leaked out prior to the announcement as they were up 71% on the day. If they fall tomorrow, we'll know that word had leaked prior to today.

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