How have you determined CGX's book value at 75c/share?

Not really relevant to CGX any more as they gave up their Pommaroon block which was bordering Venezuela. Good to keep informed but just want to let anyone know that it should not affect us.

PRE is continually buying small amounts (somewhere around 50k - 100k shares per week). They have been doing this for weeks. I can not figure it out. They are not pushing the price up at all and many days they just let the price fall. I cannot make sense of it. They own about 50mil shares already, there are another 28mil shares outstanding. At this pace, it will take them 5 years to get the remaining shares if that is their intention?! And a few hundred thousand shares is insignificant compared to their existing 50mil shares. Has anyone ever seen anything like this before? Any theories on why they would be doing this? TIA

Mineralfan - I do believe you will have another opportunity to sell and perhaps make some money. Give PRE some time to get the PP closed, the JV organized, the drill in place. If we can get a good JV carrying CGX for one or two holes, then we should see nice rise. It may take until 2014 but if we have waited this long, what is another year.

duncanmcl - does anyone post on this hub? Seems pretty dead (much like HRN these days!). Wondering if any information about HRN flows through here, even during the exciting times? I took a huge hit with this as I bought in after big mouth KH stated 75-80% chance of commercial oil. Sold a bunch at huge discount and put it back into OYL (I am pretty sure that you are there as well). I figure OYL is going to move before HRN. At least I hope so, I am huge into OYL.

I am curious why you think that "somethings up"? If I had that many shares in one account and surely I am at a huge tax loss, why wouldn't I transfer those stocks at a low price to another account (like my wife's or a different company or something like that) and take the tax loss? I would think that is a possibility. I just can not think of why moving it from one account to another account (the cross trade) is considered bullish. Can you explain?