Today, at the session opening the furious flying up of Quetzal Energy Ltd (CVE:QEI), (PINK:QUEZF) stock continues.
Yesterday, QEI formed a huge price gap like in response to investor confirmation that the bad days for the company’s shares and their poor performance are left behind.
The announced a few weeks ago company updates on the Guatemala’s and Colombia’s projects, one presentation on the options for the company’s growth and put into circulation16.5 million stock options of Quetzal Energy Ltd. shot up the price of the shares in a new trading range.
On the TSX Venture Exchange, investors’ passionate trades from yesterday delivered a quadruplicated average daily shares turnover. The price of QEI shot up 12.50% between the trading sessions to close at $0.135 per share.
At first sight, the spike of QEI raises questions what is the reason and is it reasonable on no recent company’s news to see how the shares are exploding.
The fact that no recent financial reports are disclosed by the company was also a factor producing expectations for flat QEI performance. Looks like the fact that at the beginning of the year Quetzal Energy Ltd. raised funds for operations in a private placement is encouraging enough for investors.
A few weeks ago, the company made an operational update on its 2 blocks in Guatemala. The following week it released the operations update about the Llanos basin blocks in Colombia, in which the company holds an interest. As the company reported, it is in the process of the final design and putting out for bid a 3D seismic program in order to define better producing structure at Atzam field.
There, maybe not expecting the epic shares’ rush these days, Quetzal Energy Ltd. informed investors that as of March 10, 2011 a total of 16.5 million stock options, granted to employees, consultants and officers of the company, are effective.[BANNER]
At present, on the company’s web page a presentation about its company’s plans and potential attracts even more investors. There, one of the most impressive statements is about the company’s “attractive valuation relative to significant resource potential”. According to it, Quetzal Energy Ltd. disposes in reserves and resources of approximately US$0.84 per share, against which is the current company’s market value of US$0.125 per share.
All above sounds really attractive and positive. At present, due to absence of an “updated” financial reports of Quetzal Energy Ltd. it is hard to make any calculations related to the company’s reserves and resources. Remains only a fact that these days the furious QEI rush comes on the wave of company’s operations updates and flooding the market stock options.
