Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
In the last three months Caza Oil & Gas’ (CAZA) share price has rocketed from just over 7.5p to 20.1p. This morning the company issued yet another bullish RNS, which has driven the stock 20% higher. Intuitively, this sort of move feels to me like it is going to end in tears, but I could be wrong. Perhaps Caza will live up to the market’s wild expectations. Stranger things have happened. However, there is a point about today’s RNS, which requires some scrutiny. Should companies be allowed to report Initial Production Rates (IPRs) of oil wells?
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