It appears that today the market has spoken on Tuscany's new merger with Caroil SAS by Tuscany's share price dropping to 93 cents (almost equalling it's yearly low of 92 cents) on a volume of 11,218,779 common shares being traded. Oil closed today up 94 cents a barrel after dropping around $5.00 a barrel over the last day which may have created uncertainty in the minds of a number of Tuscany shareholders, who decided since they received the news on the Caroil SAS merger with Tuscany yesterday, that the times are just too uncertain for them to hold this stock over the next number of uncertain months with the high risk involved. The question at present is, just how low will Tuscany shares go until bottom is hit and the market perceives the shares as an incredible buying opportunity and it starts to go up again. As the last Jenning's Report that I posted recently stated, even though it is now outdated, it is going to take two or three quarters until the metrics of the merger in terms of a greatly improved EBITDA and cash flow proves to the market place that Tuscany shares are an incredible buy.
Time will tell. Cheers; Scott