The stock is up 6 cents at $4.13.
We have had a grand total of two posts on Toreador:
Sept. 28, 2010
The World's Next Big Oil Play: Paris? (I'm talkin' France, not Texas) TRGL
Be skeptical, be careful.Oct. 8, 2010
There has been some production in the basin since the 1980's, this is not a new discovery.
Toreador Resources (TRGL) just moved above the high it made in May but is still below the January highs and far below the $36+ it traded at in 2005 i.e. there is overhead supply....
Sancerre, Chablis and 100 Billion Barrels of Oil (TRGL; HES)
There's not a lot of first quality wine grown in the Paris basin, the AOC's in the headline are close geographically but a long way from Romanée-Conti.Here's the latest, from AC Investor blog:
We posted "The World's Next Big Oil Play: Paris? (I'm talkin' France, not Texas) TRGL" 10 days ago in which I cautiously cautioned "Be cautious" regarding Toreador. The stock closed that day at $9.82, it's at $12.09 right now, but what's 23% between friends. Sorry.
Paris Oil Drillers Target 100 Billion Barrels Near Brie, Wine
3 Technical Setups for Thursday
Since we posted last year the French banned hydraulic fracturing for oil and gas development with the French Senate saying non on June 30.( click to enlarge )
Here is a bottom play I found. Toreador Resources Corporation (NASDAQ:TRGL) may be forming a bottom after being in a downtrend for months. Nice break out today with a volume increase. If this chart does what is supposed to do, it will be going higher in the days to come, plenty of room to upside. Technically, the stock is in a short-term Bull Market with share price above 5, 13 and 20 daily moving averages. Let's see if tomorrow the stock will confirm the breakout. Short-term investors can buy with a stop at $3.67 and long-term investors can hold with a stop at $3.48. Let's keep an eye on her as i think momentum will pick up.
On the other hand Platts reported July 6:
Toreador to continue oil shale work in France despite fracking ban