I was surprised I didn't see a thread on this yet, so if I missed it, my apologies........
I have followed this one for awhile and tarded it a few times, but this Link is interesting to say the least...............Buy out candidate?
If true, maybe buy the rumor?
http://www.business-standard.com/common/storypage_c_online.php?leftnm=11&bKeyFlag=IN&autono=25765
Good volume this a.m............
If Volume holds, we should have a great close.............
TMY is today´s pick of Sharpeyed.com. It can be reason of higher volume today. ???
Updated chart look.......
Wednesday, June 11, 2008 - 4:00 PM CDT
Transmeridian Exploration receives $215M investment
Houston Business Journal - by Ford Gunter
Transmeridian Exploration Inc. has received a $215 million infusion from a Hong Kong-based energy investment holding company.
United Energy Group Ltd. has acquired at least 90 percent of the outstanding shares of Transmeridian's 15 percent senior redeemable convertible preferred stock and 20 percent junior redeemable convertible preferred stock.
Transmeridan, a struggling Houston-based exploration and production company with a focus on the Caspian Sea and Russia, will use the funds for capital expenditure and working capital.
In May, the company's board of directors underwent a shake-up that directly preceded a notification from the American Stock Exchange that Transmeridian (AMEX: TMY) was in danger of being removed from the exchange because of huge losses compared to operations.
The company had until June 5 to submit a plan to AMEX to remain listed.
United Energy Chairman and Executive Director Hongwei Zhang said his company was happy to "invest in a company with such attractive assets as Transmeridian" and that it would further UEG's E&P footprint.
updated chart look.......
52wk Range: 0.24 - 2.50
Volume: 1,608,923
Avg Vol (3m): 865,519
Technicals
Percentage Gainer
Last Price Quote is:
41.42%above 13-day MA
33.22%above 50-day MA
RS Rating: N/A
Fundamentals
Key Data:
Market Cap (M): $195.07
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: Buy