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The Company is an independent energy company engaged in the business of acquiring, developing and producing oil and natural gas.
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Oilbull2006 (< 20) Submitted: 11/17/07 1:45 PM : Start Price: $1.82 TMY Score: -57.36
The company has final bids to take over the entire company and oil assets in Kazakstan. Permits and licenses in good working order. Production through their own pipeline connection just started recently. They are getting Brent prices minus major pipeline fees. Transmeridian Exploration was put on the block when the price was trading in the 3's and 4's. The CEO stated the company wasn't fully valued by the market and he evidently thinks a takeover will get shareholders above what it was trading at. Debt interest is being paid in preferred and common stock. A firm offer above $4.25+ will happen by end of Dec. I believe. Some insiders have been buying up until July at prices higher than the stock has been trading lately.Speculative buy, but offers are there. It is just a matter of final negotiations and price per share offer at this point.
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cubanstockpicker (78.64) Submitted: 11/19/07 2:33 PM
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In this market, this is the most unspeculative buy one can make. They got their own pipeline, lost money because they barely pumped out any oil in Q3, which is smart. Why sell the oil at a discount, when they can slow production, then sell it now, when prices are peaking and they will get a better price per barrel? BTW, they got their own pipeline and demercaptan, plus at 72 nillion barrels of oil underground, with estimates reaching 200 million. I think they go for $6 (better yet I hope).
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Hibachi0 (94.61) Submitted: 11/20/07 7:34 PM
read my long post
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