PERT ask sat .036 showing 135,500 all afternoon. Above them was bkrt at .039, csti and vfin at 4 cents.
It's going to take some big money hitting ask repeatedly to get this thing back above 4 cents. Sitting on bid and waiting for them to drop shares won't do it.
Nonetheless events are lining up to favor the big buyers to stepping up in the next few weeks/months.
1. Q 3 guidance - another flurry of run tickets with oil sold should give additional evidence for revenue production
2. 10 Q - We are almost through the 3rd quarter and that official SEC document should be out well before mid November. Treaty will do everything in their power to put this out as fast as possible.
3. SJ 1 and/or SJ 2 production - either two or both should be ready to produce according to the PR. I would guess it would be ready before the end of the year, but even if they started pumping in Q1 it's no big deal.
4. Horizontal drilling in East Texas
5. W. Texas
6. The 10 K / 4th quarter 10 Q should post 90 days worth of revenue which all but guarantees a quarter over quarter growth
All 6 of these catalysts should drive the price, it's just a waiting game. If you don't need your TECO money to pay rent, you should be handsomely rewarded.
Ignore all the rumors, hype, and naysaying. Watch the price action, most importantly on a weekly/monthly chart basis which shows a strong bias towards closing above 4 cents, and talk to management directly if you have questions.
