Yesterday, I bought 2,500 shares of Hyperion Exploration (TSXV:HYX) at $1.11 in my HELOC account.
This brings my total to 5,000 shares of HYX at an average price of $1.24 in my HELOC account.
Stock Trade Commentary
I stand by my thesis on HYX and as such I decided to average down by grabbing some shares at $1.11. The company is cashed up with $7 million, got 1,000 boed of production and a great land package. It seems that most of the selling is done by Anonymous and BMO. Whatever their reason is for selling, as far as I know and I could be wrong, there’s nothing to justify this low valuation. Patience is required with this one as we are in spring breakup and not much activity is expected for up to 8 weeks.
Today is the first time volume comes to life with a 200k block crossed during the day. A company news release is imminent discussing capex and guidance for 2011. Is this company finally attracting interest?
What do you think?