Indocan Resources Inc. (PINK:IDCN) – a VERY Dangerous Play Out There

Indocan Resources Inc. (PINK:IDCN) might be looking hot, but still they are just talk and no results at the moment.

IDCN stock is trading up on high volumes and has been attracting so much attention lately that it might be over burning in the coming few trading sessions. Lets look at the facts.

The current price rally was based on the company’s public announcements through press releases. The company hasn’t filed 8-k form, nor they are filing with the SEC altogether. Moreover, saying they will begin drilling in April doesn’t yet mean they necessarily will and the planned cash flows to be reached in July are based on undisclosed calculations.[BANNER]

They said the surrounding wells are producing, but they still don’t own any of them. And how much money will it take to drill a well? Onshore wells cost from below $1 million up to 15$ million to drill according to wikipedia. The company only has half a million.