Talk me out of buying this stock
 

http://www.otcmarkets.com/stock/WGAS/chart

Apparently recent news said that the convertible debts are going to be settled as they've now got a commitment of 8.5k in financing (that's a big deal)... and they own 70% working interest / 51% revenue interest in Vermilion block 179

The problem is that it went on a HUGE run friday and I can't imaging buying something that went from .009 to .03 (maybe in the real world.. but not in penny stock land)

The float has been increasing a little bit, but not by a whole lot and I believe it's sitting at maybe 88M or so (I'm still catching up on ihub posts and haven't contacted the ta myself at all)

Here is the thing, though- the more I find out, the better this company sounds. IF the financing is really happening, this should go to around .07 AT LEAST

The float has increased little by little but nothing crazy

Is it stupid to pick up some shares monday? I mean to say I would not want to chase the thing if it gaps up and/or starts shooting up to the moon again monday and yet that'd be a great reason to buy it, I guess

But then I think if I do decide to take a position I'd wait to see what happens at the bell and wait for a pullback. . Everything I have been learning about SHORTING these small companies has always lead me to believe that short sellers AVOID energy companies with "real news"

So- is this the 1 of 1000 penny companies that could be worth buying into? But buying a small company after a huge spike is suicide 99.9% of the time ... so .. I am still on the fence here.

I may gamble a few hundred to find out
Opinions welcome :) I have looked at a couple hundred penny companies thus far and this is the first time I have sipped the kool-aide. Not sure if I dare DRINK any, or not. A few of you seem to know a-lot about trading. Some good minds on GFY, for sure.

Why aren't you writing your own bullshit hype and having a blog promoting to the easily led?

I found this news is out. Buy the rumor, sell the news.

The rumor is going to send this way over $.03 in my opinion.. the commitment letter could have contingencies in it and whatever else, and there is some kind of pending litigation that wasn't real and some more than apparently is but I don't seem to be able to figure that part out yet.

I still think it's not done running.. Traders tend to be insane and nuts when it comes to anything related to energy. It doesn't take much to send one of these to the moon if it look or seems half way viable, at all

Plus- the market cap has been MULTIPLES of what it is right now BEFORE the VM179 news

That said, even though the financing news was upgraded from pre-approval to a commitment letter- it's not DONE at this point. Without it, the debt holders can still sell their shit off. WITH it though, those shares all end up being cancelled.

If this goes through it's going to skyrocket and I think it's a decent enough gamble (but I'm not done researching yet either). There is A LOT of shit you have to watch out for.

A-lot of idiots are still stuck who bought in at very high prices, shorts had to cover (which looks like demand) BUT still more morons who bought low are up over 400% so they could sell off suddenly taking profits, too- but- I think most of that should be done, by now, because a-lot of them probably run screaming at 100% or even before that (and who can blame them)

0.03110.0246 (378.46%) at Feb 8, 2013

You missed the rumor. The news is out there. Now you could determine the value of the gas field that they own 51% interest in as I saw an estimate of the gas there. If it is in the US then zero might be the answer. Gas is regional not internationally liquid like gas/oil. So there are gas reserves of x they own 51% and these are normally valued at about. Then see if you would still buy it.

I wonder how far would Warren Buffet or George Soros would have got if they posted everything they were ever thinking of doing on GFY before they did it?

Buy shares in the companies who treat infertility; the vaccines being given out now are designed to damage fertility, so there's going to be a huge market within the next 10-20 years :2 cents:

You are a moron.

It'll be some time before they find out what is there, though, and everything I've been reading leads me to believe that traders will buy these based on "estimated" figures ... You're right that I missed this one, but it seems like it could still be a pretty strong play

Considering that is seems like at least a 50/50 chance they'll run it to the fucking moon and I can only lose 100% but it could easily run another 400% or more is what's keeping me interested

I'm trying to find a way to talk myself out of it by monday
I need to know more about this litigation and how sure the financing deal is and how sure they are they've got the rights to VM

But, according to some morons on ihub- this has traded well above this range even WITHOUT the VM news (in terms of the market cap)

Then don't make money from my tip, not a problem, your choice :2 cents:

Well what you posted was pretty difficult to believe, if I'm reading it correctly. I'm not saying it ain't true, even still- you know what I mean, right?

I am world expert on that topic :2 cents:

You could very well be, but, we're sitting here typing on a message board.. you know :winkwink:

If everyone believed me you wouldn't be able to make much money, best that most don't :2 cents:

I feel like an owl, right now.