When company executives purchase shares of their own company, it’s sometimes taken as a signal that positive things are in the wind. After all, who would have a better sense of a company’s future than the management team, and a willingness to put their own money on the table would seem to underline their confidence. In reality, of course, executives are only human, with a crystal ball that is often no clearer than anyone else’s. Moreover, insiders are legally restricted from making trades based upon anything other than publicly available information. Nevertheless, there is one thing that nobody can dispute about insider buying. It clearly puts insiders on the same side of the fence as investors, forging a commitment to success that is far more personal.
In the case of domestic oil/gas exploration and production company Strategic American Oil, insider commitment is best represented by the fact that the company’s CEO and Director, Jeremy Driver, has been a regular buyer of the company’s shares, as evidenced by transactions over just the past month (source – Yahoo Finance):
• 10/26/11 – 75,000 shares
• 10/24/11 – 3,250 shares
• 10/17/11 – 110,600 shares
• 10/14/11 – 40,000 shares
• 10/13/11 – 199,460 shares
• 10/12/11 – 200,000 shares
For Driver and other company officers, optimism is no doubt partly supported by the ongoing and well known boom in the domestic oil market, a rising sea that is lifting many ships. But Strategic’s position is considered especially strong, with a portfolio of already producing wells and cash flow, an example of the company’s strategy to grow through low risk development and workover projects. They have a solid inventory of diversified projects in Texas, Louisiana, and Illinois, with the money and technology for continued development and expansion. It’s a powerful combination that is not lost on the people closest to the action.
For additional information, visit www.StrategicAmericanOil.com
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