something to think about....i had a communication last week with another AIM oil/gas company re:takeover sp and he mentioned that a place to start is 2P reserves. for CAZA the 2P is about 19MM BOE (see final results from March 2014) - CAZA quoted a BOE price of $70. let's downsize that to $50 to be conservative, then for 203m shares and after converting to £ it suggests £3/share for 2P reserves. so is 22p a good buy? i should think so
wait..double checked, top bolinger 44.4c, so 45c breach is about 24.25p
tsx caz top hourly bollinger ~43.5c so a breach of that would require 44c trade, or 24.5p in our money
i suspect MMs may take advantage of the change in week and month to create 2 large bullish candles