LOS ANGELES, CA -- (MARKET WIRE) -- 05/31/05 -- Silver Star Energy, Inc. (OTC BB: SVSE) today announces that the "13-22" well has been successfully completed and will be put into immediate production. This is now the second well to be brought on for commercial oil production at Joarcam by Silver Star.
The completion program involved a 3.0 meter perforation of 2.5 meters (8.2 feet) of the Viking (oil) zone. The oil pay zone was thicker than earlier thought. The result was an excellent influx of fluid confirming strong permeability and porosity and that the perforation contacted the oil zone
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posted
sorry guys for now i dont believe in the stock.. i had a stop/loss and got stopped out at .58 ... but it looks to be at RSI 21 so it is very much oversold...if there is a uptrend it will probably be tremendous because of such a low price... I might get back into oil stocks around november.. they seem to be a cyclical stock...
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posted
i bought back into it today... up 10.09% for the day... this one should be interesting with the Government's oil inventory report due on Wednesday... somehow I think SVSE will go up whether the report is good or not.. if the news is bad then most likely oil prices will go up and break $60 because we will rely even more on overseas oil & demand will be high which will rally all the oil stocks domestic and non-domestic.. if the news is good about domestic inventory it would only help domestic oil company prices like SVSE ... tomorrow will be interesting... keep a watchful eye out... tight stop/losses in case it goes bad for us.. if not.. LET IT RIDE!! (like the Richard Dreyfuss movie about horseracing and everything goes right for him in all the races he bets on lol good movie.. rent it u'll like it)...
-------------------- Let the world change you... And you can change the world.
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