Stock Trades: Bought TSXV:ATK (Oil and Gas)

Yesterday, I bought 10000 shares of TSXV:ATK Atikwa Resources at 0.08.

Stock Trade Commentary

Atikwa is not the typical company that you will see me buying. I usually buy solid companies with production not startups. On the other hand I would not rate this company a “lottery” ticket, they have a very small production base and have interesting drill targets for light oil this summer in both Manitoba and Saskatchewan. It’s the Saskatchewan part that makes it interesting; we’re talking Bakken oil here.

I think I picked Atikwa at a decent price. The price weakness is explained by the expiration of the holding period of the equity financing from December. One more weakness to be observed around May 2 and off we go. The high for this year has been 18.5 cents, and I am sure we will revisit it following some drill results this summer. That does not mean that I will be holding this long in light of general market conditions, we’ll see.

This month is coming to an end and if you’ve been following, I am sure you noticed that several trades took place weekly. The portfolio has been refreshed and I expect the trading activity to wind down a little bit until catalysts are hit by my stocks which could take some time.

I am still watching many targets closely and might decide to sell a winner in order to pick up an oversold target. As it stands however, Except for IPT, every stock is in the negative right now. If you are not familiar with Atikwa, I will be featuring it soon.

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