3SOF

Form 8-K for APOLLO RESOURCES INTERNATIONAL INC


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11-Jan-2007

Other Events



Item 8.01 Other Events
From approximately June of 2006 to September of 2006, Apollo Resources International, Inc. (the "Company"), acquired approximately 35,000 acres of both developed and undeveloped mineral leaseholds within portions of Sutton, Edwards, and Kimball counties in southwestern Texas. The developed leaseholds include 45 existing producing wells that currently produce approximately 466 thousand cubic feet (MCF) of natural gas per day and 25 barrels of oil per day.

In November of 2006, the Company entered into a participation agreement with Patriot Exploration Co., Inc. ("Patriot") to begin a natural gas well infill drilling program in certain developed areas of these mineral leaseholds. To date, the program has resulted in the drilling of seven successful natural gas wells, five of which are being completed. Of the five, initial well tests were completed on January 5, 2007 on two of the wells for completion report purposes. The tests show initial flow rates of 1,000 MCF/day on one of the wells and over 500 MCF per day on the other. These tests do not necessarily reflect future production rates. Further, the participation agreement allows for up to $5 million to be used for drilling operations. Under the terms of the participation agreement, the Company's working interest in these new wells has been assigned to Patriot until payout of outstanding financing amounts contributed by Patriot.

I am still new but see

"Bullish Harami Cross Pattern is a doji preceded by a long black real body. The Bullish Harami Cross Pattern is a major bullish reversal pattern. It is more significant than a regular Bullish Harami Pattern.

Recognition Criteria:

1. Market is characterized by downtrend.
2. Then we see a long black candlestick.
3. Long black candlestick is followed by a doji completely engulfed by the real body of the first day. The shadows (high/low) of the doji may not be necessarily contained within the first black body, though it's preferable if they are.

Explanation:

The Bullish Harami Cross Pattern is a strong signal of disparity about the market's health. During a downtrend, the heavy selling reflected by a long, black real body; is followed by a doji next day. This shows that the market is starting to severe itself from the prior downtrend.

Important Factors:

The Bullish Harami Pattern is not a major reversal pattern, however the Bullish Harami Cross Pattern is a major upside reversal pattern. Short traders will not be wise to ignore the significance of a harami cross just after a long black candlestick. Harami crosses point out to the bottoms.

A third day confirmation of the reversal is recommended (though not required) to judge that the downtrend has reversed. The confirmation may be in the form of a white candlestick, a large gap up or a higher close on the next trading day."

Forming someone please let me know if I am correct, thanks in advance. Have a nice weekend. 

Anything is possible.  Looking at the big picture...it doesn't look likely but anything can change with a little bit of news.  I haven't researched this company..only looking from a charting perspective and the only good thing I see on this chart is a possible rebound play back to the middle bollinger band (~$0.14)

...but I would stay away.  Don't try to catch a falling knife.

Good luck...Jody

Thanks appreciate the feedback, I bought some the other day @ .11 cents and will see what happens, I feel like oil stocks are ready to bounce which this is and they own majority of earth biofuel which went up 12 percent on friday, I would think that would have a positive affect.   Hope so. Thanks again.

I.m still new but this is what I see.

This skeleton is just about DEAD!!
Can anyone shed some light on the tender offer this July 31? They say that they will do a split and immidiate reverse split and buy out anyone with less then 65,000 shares at .035/share

Would it be worth buying some here at .027 or can they change their buy back offer at the last minute?

Cheers Joe