anyone remember Blue Dolphin Energy?

BDCO had a big % pop tuesday 6-15 on news. near a multi-year low and only 12 million shares out. was over $8 in early 2006. could be worth a trade....

ref: https://www.marketwatch.com/story/blue-dolphin-signs-commitment-letter-to-acquire-majority-working-interest-in-indonesian-assets-2010-06-15

 

rat,

That news today seems wacky honestly..

So there are 12M shares out, market cap at 4M and they are issuing twice the value of the company in shares for a 70% working interest, then an additional 16M shares if production goals are met?

So the float could go from 12M to 52M and they ramp it up like that?

Crazy...

true it's a big jump in shares BUT they sure have the "cap space" to do it AND they get that 70% Indonesia interest for NO money. I"m sure the plan is to develope that TAC Langsa area and then probably sell to a "big dog" major. that's the usual battle plan for small operators.

stock popped some more early wednesday. hit 0.61 out of the box. current 0.48 +0.10. another nice % move.  

dipped down to 0.42 midday wednesday BUT came on last hour to close @ 0.52 + 0.149 for the day on 3.4 + million shares.

hopefully continues higher. as long as the volume holds up should be OK  BUT....

BOL