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BUYINS.NET: (PLLL) SqueezeTrigger Price is $18.120. There is
$78,326,688.00 That Short Sellers Still Need To Cover
(M2 PressWIRE Via Thomson Dialog NewsEdge)
RDATE:02012008
BUYINS.NET / www.squeezetrigger.com is monitoring PARALLEL PET CP
(NASDAQ:PLLL) in real time and just received an alert that is crossing
above its primary SqueezeTrigger Price, the price that a short squeeze
can start in any stock. There are 4259200 shares that have been shorted
at the volume weighted average SqueezeTrigger Price of $18.120. To
access SqueezeTrigger Prices ahead of potential short squeezes
beginning, visit http://www.squeezetrigger.com .
From January 2005 to December 2007, an aggregate amount of 89822222
shares of PLLL have been shorted for a total dollar value of
$1,616,799,996.00. The PLLL SqueezeTrigger price of $18.120 is the
volume weighted average price that all shorts are short in shares of
PLLL. There is still approximately $78,326,688.00 of potential short
covering in shares of PLLL.
SqueezeTrigger.com has built a massive database that collects, analyzes
and publishes a proprietary SqueezeTrigger Price for each stock that
has been shorted. The data has then been integrated into an automated
trading platform which can be used to connect to a live online broker
and automate your trading of short squeeze events. It is extremely
powerful with lightening fast execution at a very low price. Both the
trading software and SqueezeTrigger data feed are available at
http://www.squeezetrigger.com .
PARALLEL PET CP (NASDAQ:PLLL) Parallel Petroleum Corporation
(Parallel), incorporated on November 26, 1979, is engaged in the
acquisition, development and exploitation of long life oil and natural
gas reserves and, to a lesser extent, the exploration for new oil and
natural gas reserves. Majority of the Company's producing properties
are in the Permian Basin of west Texas and New Mexico, Fort Worth Basin
of north Texas and the onshore gulf coast area of south Texas. In
addition, Parallel is evaluating, leasing, drilling and preparing to
drill on two other projects located in the Cotton Valley Reef trend of
east Texas and the Uinta Basin of Utah. The Company's estimated total
proved reserves attributable to all of its oil and gas properties was
21.2 million barrels of oil (MMBbls) and 25.2 billion cubic feet of
natural gas (Bcf) as of December 31, 2005. Approximately 83% of
Parallel's proved reserves are oil and approximately 65% are proved
developed reserves.
Fort Worth Basin of North Texas
The Barnett Shale Gas Project, Tarrant County, Texas represented
approximately 4% of the Company's total reserve value as of December
31, 2005. Parallel's leasehold position in the Barnett Shale gas
project includes approximately 11,500 gross (3,100 net) acres. As of
January 25, 2006, there were two drilling rigs running and five wells
awaiting completion and pipeline connection in the Barnett Shale gas
project.
Permian Basin of New Mexico
The Wolfcamp Gas Project, Eddy and Chavez Counties, New Mexico,
represented approximately 1% of the Company's total reserve value as of
December 31, 2005. Parallel's New Mexico Wolfcamp gas project consists
of three areas of mutual interest (AMI's), in which the primary target
is the Wolfcamp formation at a depth of approximately 5,000 feet. The
Company's leasehold position in the project includes approximately
149,000 gross (44,000 net) acres, combined, in Areas 1, 2 and 3.
Area 1 of the Wolfcamp gas project consists of approximately 63,000
gross (4,600 net) acres. Its base working interest in this non-operated
AMI is approximately 8.5%. Area 2 of the Wolfcamp gas project, which is
contiguous to Area 1, is operated by the Company and consists of
approximately 77,000 gross (35,000 net) acres. Parallel's base working
interest in this operated AMI is approximately 85.0%. Area 3 of the
Wolfcamp gas project is located within the original confines of Area 1
and is also operated by the Company. Parallel's leasehold position in
this area, consists of approximately 9,000 gross (5,000 net) acres. Its
base working interest in this operated AMI is approximately 85%.
Permian Basin of West Texas
The Permian Basin of west Texas generated approximately 50% of the
Company's production during the year ended December 31, 2005. The
Permian Basin of west Texas represented approximately 85% of Parallel's
reserve value as of December 31, 2005. Parallel's producing properties
in the Permian Basin of west Texas include Fullerton San Andres Field,
Andrews County, Texas; Carm-Ann San Andres Field / N. Means Queen Unit,
Andrews and Gaines Counties, Texas; Harris San Andres Field, Andrews
and Gaines Counties, Texas; Diamond M Shallow Leases, Scurry County,
Texas; Diamond M Canyon Reef Unit, Scurry County, Texas, and Other
Permian Basin Projects.
Onshore Gulf Coast of South Texas
The Yegua/Frio/Wilcox Gas Project, Jackson, Wharton and Liberty
Counties, Texas project represented approximately 10% of the Company's
total proved reserve value as of December 31, 2005. This project
generated approximately 31% of Parallel's daily production in 2005.
Other Projects
As of December 31, 2005, the Company's leasehold acreage position in
this project was approximately 197,000 gross acres. It is a multiple
zone project consisting of both oil and natural gas targets at a depth
of less than 6,000 feet. The East Texas Cotton Valley Reef Gas Project
consists of approximately 5,000 gross (650 net) acres. Parallel owns an
approximate 13.125% working interest in this project.
The SqueezeTrigger database of approximately 1 billion short sale
transactions goes back to January 1, 2005 and calculates the exact
price at which the Total Short Interest is short in each stock. This
data was never before available prior to January 1, 2005 because the
Self Regulatory Organizations (primary exchanges) guarded it
aggressively. After the SEC passed Regulation SHO, exchanges were
forced to allow data processors like SqueezeTrigger.com to access the
data. Total Short Interest is the number of shares shorted but not yet
covered, and is different from total short volume. To access
SqueezeTrigger Prices ahead of potential short squeezes beginning,
visit http://www.squeezetrigger.com
About SQUEEZETRIGGER.COM
WWW.SQUEEZETRIGGER.COM is a service designed to help bonafide
shareholders of publicly traded US companies fight short selling.
SqueezeTrigger.com has built a proprietary database that uses Threshold
list feeds and short sale time and sale data from NASDAQ, AMEX and NYSE
to generate detailed and useful information to combat the short selling
problem. For the first time, actual trade by trade data is available to
the public that shows the attempted size, actual size, price and
average value of short sales in stocks that have been shorted. This
information is valuable in determining the precise point at which short
sellers go out-of-the-money and start losing on their short trades.
SQUEEZETRIGGER.COM has built a massive database that collects, analyzes
and publishes a proprietary SqueezeTrigger for each stock that has been
shorted. The SqueezeTrigger database of nearly one billion short sale
transactions goes back to January 1, 2005 and calculates the exact
price at which the Total Short Interest is short in each stock. This
data was never before available prior to January 1, 2005 because the
Self Regulatory Organizations (primary exchanges) guarded it
aggressively. After the SEC passed Regulation SHO, exchanges were
forced to allow data processors like SqueezeTrigger.com to access the
data.
The SqueezeTrigger database collects individual short trade data on
over 7,000 NYSE, AMEX and NASDAQ stocks and general short trade data on
nearly 8,000 OTCBB and PINKSHEET stocks. Each month the database grows
by approximately 50,000,000 short sale transactions and provides
investors with the knowledge necessary to time when to buy and sell
stocks with outstanding short positions. By tracking the size and price
of each month's short transactions, SQUEEZETRIGGER.COM provides
institutions, traders, analysts, journalists and individual investors
the exact price point where short sellers start losing money and a
short squeeze can begin.
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