Sold MXM.v

Since late September, the shares of Maxim Resources (MXM.v) have gone from $0.21 to $0.49 in anticipation of flow rate testing results at the company's Trinidad property. In particular, the stock price has gone from $0.30 to $0.49 in the past week alone, and I do not believe that this tremendous upwards momentum can be sustained for much longer. I have therefore executed a sell at my original target price of $0.45 for a modest 25.70% gain.

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The impending news release does, however, have the potential of sending the stock price over $0.50 in the near-term. For this to happen, I believe the Trinidad well will need to produce in excess of 300 BOE/d, thus beating the projected 100-300 BOE/d issued by the company. If such results are proven, I may consider re-purchasing some shares. Good luck to those who are still holding.

Please do your own due diligence, these are not recommendations.