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Greka Drilling up 67% today and heading for 7p, claims Zak Mir

Shares in Greka Drilling Ltd (LON:GDL) are up 67% in early trading to 4.5p and technical analyst Zak Mir reckons they’re on track to hit 7p over the next couple of months.

You can see that there’s been a decent basing for the stock over the last year and a half towards the 2p zone…breaking back above the 50 and 200-day moving averages with the latest announcement,” explains Mir in the latest Proactive Investors Bulletin Board segment.

“The best case scenario target over the next couple of months as high as 7p towards the 2015 resistance line projection, especially while we hold above the 200-day line at 3p.”

Quick facts: Greka Drilling Ltd

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Market: AIM
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Greka Drilling boss Grewal hoping to drill 250 wells

Randeep Grewal, the chief executive and chairman of Greka Drilling (LON:GDL), says he hopes the company will be able to drill close to 250 wells over the next 15-18 months. Grewal says it is difficult to predict the exact number of wells that will be drilled but is optimistic about the road...

on 09/24/2014

2 min read