Delisting on the TSX

[Surfbum84]

Hello.

So I bought into oil.to when it was at 7 cents...and now it's up to 0.28. I put 10g's into it and have realized a very tidy profit.

The only problem is I see something about it being delisted from the TSX on Feb 9th. What does this mean? I read the press reports but it doesn't make sense. Should I get out now...or....or what?

 

[stang]

You lucky bastard. I was about to get in on that last Friday but got distracted damn it! Looks like it just about doubled again today.

 

[Surfbum84]

Yeah man...I got a tip from a guy last week and was like "Get in this...NOW" so I did....and I'm a very happy camper.

The only issue is I am not sure what the deal is with it and I think I should dump at least my principal to eliminate the risk...but I'm greedy as!

 

[Blue_eyes_TO]

It is also listed on the London Stock Exchange...you could just exchange your shares for those, however, then you introduce exchange rate risk.

 

[Mencken]

Hello.

So I bought into oil.to when it was at 7 cents...and now it's up to 0.28. I put 10g's into it and have realized a very tidy profit.

The only problem is I see something about it being delisted from the TSX on Feb 9th. What does this mean? I read the press reports but it doesn't make sense. Should I get out now...or....or what?

Being delisted means you will have to find some other way of selling your shares...meaning liquidity problems.

Congrats on your investment...or perhaps congrats when you realize your profits. Until you sell you never know.

Buyers of shares must be speculating on a sale of assets leaving some money for shareholders. That may or may not happen...so best of luck if you choose to hold.

For me it doesn't matter. I bought when shares were much higher...so I've effectively lost 99% at 8 cents or at 28 cents a share. I can't really recover much more than my trading cost to sell...so no reason to sell at this time.

 

[rafterman]

Buyers of shares must be speculating on a sale of assets leaving some money for shareholders. That may or may not happen...so best of luck if you choose to hold.

Sell half for 20 g's, get your original money out plus a 100% profit plus you still have half your shares left.

 

[JohnLarue]

Sell half for 20 g's, get your original money out plus a 100% profit plus you still have half your shares left.

This is a good strategy as it ensures you lock in a profit.

However this is a troubled company trading as a penny stock, it could go to zero pretty quick
It has a loan repayment due on the 31st (& not enough cash to cover)
Possible they have renegotiated the payment terms?

If you bought 10 Gs @ 0.07 = 143,000 shares
You have a 4 bagger, pretty darn good in this market.
Its personal preference, but I would be inclined to take more off the table

Selling half leaves you with 71,500 shares which may still go to zero
If you sell 120,000 you take out $34 K & leaves only $6,400 as risk capital
Again personal preferences, but in this market a $34 K capital gain is outstanding

 

[BallzDeep]

I just read where oilexco 'can't explain the rise in its share price', I'd sell it all. I thought that if companies were anygood, they'd get bought out, these guys aren't and are riddled with debt I believe. Nobody will lend them money or wants anything to do with them. I'm no expert, just been burned too many times, whenever you're unsure, best to sell, JMHO.

Looks to be a day traders stock by the volume, people looking to make a quick buck, aren't we all. Again, I'm no expert.

http://www.cbc.ca/cp/business/090127/b0127105A.html

 

[happydog]

Surf,

At the end of th day there was still a bid for .18 and someone asking for .235
If those hold maybe they meet in the middle in the morning.

Bid Price Shares Time
ETRF 0.18 5000 15:59
VNDM 0.15 5000 11:25
DOMS 0.10 5000 14:18
NITE 0.09 5000 16:00

Ask Price Shares Time
ETRF 0.235 5000 15:59
DOMS 0.30 5000 14:18
NITE 0.31 5000 16:00
VNDM 0.50 5000 11:25

 

[Surfbum84]

Well I sold late this afternoon...all of it. I couldn't take the risk the news clippings about that company scared me off a little.

I then took half my profits and bought into Bank of America for more of a long-term growth, and the rest into Canadian banks just for a steady dividend stream and a "safer" place.

 

[gentle_lover]

Well I sold late this afternoon...all of it. I couldn't take the risk the news clippings about that company scared me off a little.

I then took half my profits and bought into Bank of America for more of a long-term growth, and the rest into Canadian banks just for a steady dividend stream and a "safer" place.

care to care which company is it?