Kelt Exploration Ltd. insiders bought around the time its stock set an all-time low of $2.45 in August. The share price subsequently rallied and was up 99 per cent from that low as of New Year’s Eve. However, the stock stalled less than $5 and has been slipping along with oil this month. Seasonally, January can sometimes produce the calendar year low for oil and related stocks. Kelt chief executive David Wilson may be betting that turns out to be the case this year as he has been buying the pullback.
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Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.
Ted Dixon