PetroShale Inc. is focused on the North Dakota Bakken/Three Forks play area. Director Bruce Chernoff bought 1.5 million shares at 66 cents each on July 25, representing a $990,000 bet on PetroShale’s growth prospects. The purchase was one cent above the stock’s 52-week low. Mr. Chernoff is no stranger to the oil patch. He was chairman and founder of Harvest Energy Trust, which at one point produced more than 60,000 barrels of oil equivalent a day before being sold to the Korean National Oil Company in 2009 for $4.1-billion.
Ted Dixon is CEO of INK Research, which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.