Geo Energy - Does insider buying equate with share price rise?

A peek at insider activity has revealed directors buying 200,000 shares in Geo Energy at prices ranging from 0.43 to 0.465 this month. Is this the time to buy?

This is the chart for Geo Energy. It is clearly on a downtrend. So, there is really no hurry to buy, unless stock starts moving upwards on higher volumes (wait for 9D to cross above 20D). But I personally believe it could be bottoming.

Fundamentals:

PE: 15.3
P/B: 3.11

Not mouth-watering.