Utica and Maritime Shale Update

What a week for the Four Horsemen of the Utica Shale and all others involved in the play. Friday saw a speculative fever that hadn't been seen before now. Surprisingly, there are still many junior exploration investors in the gold/silver and base metals that are not even aware of what is going on. Several people I've corresponded with haven't even heard of the story. That tells me the legs are still strong and more gains are ahead. Canadian Quantum continues to impress with a major move up Friday after Thursday's day of rest. They should be announcing who their 20% partner is Monday or Tuesday (my guess is Talisman). There is not a hotter play right now IN THE WORLD than the Utica Shale plays.

During the week, it was discovered that an illegal naked short position existed on Altai's shares. As expected, these crooks dropped Altai's price from $2.20 to $1.75 in a matter of minutes earlier in the week to try and cover their shorts. Altai holders who had stop loss orders placed had their shares stolen from them. Please, please use mental stops, not stop loss orders. There is a still a large short position on Altai and these crooks will probably try another raid next week. They are cornered, way underwater and desperate.

On the Maritime front, Triangle Petroleum announced a major PP at $1.40 today which will give them over $30 million to drill their 70% Nova Scotia shale gas play. Contact Exploration, which owns the other 30%, jumped up 21% to $.68 on the news.