Okay guys just got home, I see some are not happy here. Perhaps someone got trigger happy with the TH and I for one wouldn't have dialed 000 (TH) on this one.
But (I may sound too optimistic here)
1. Appears (strongly) not a duster
2. TH or not announcement is market sensitive and is positive
3. Oil and gas prices in the last few months have been down the crapper
(even though we in Aust aren't seeing it at the pump)
4. I would prefer an under embellished announcement now with a
more positive upside along with scientific evidence such as the wire line logs.
5. Perhaps the TH was called due to the fact of possible loose lips. Remember you
have a drill crew (third party) onsite with probably (I hope) vast experience. The expert
driller will give a good indication, based on experience (gut feeling), what sort
of production (how high the readings are) is possible here.
6. I suspect that with such a low commodity price, not all the story is being told here.
How happy would we be if they are able to upgrade the reserve forecast once logging
and testing are completed.
What a waste of a great announcement with the markets on such negative sentiment lately.
I would hope they are holding some excitement back for a better time, with scientifically backed
good news.
EGO Price at posting:
42.5¢ Sentiment: Hold Disclosure: Held
