welcome to a crappy market. bigger solid stocks getting hammered. Cant expect too much from an small explorer with definitive results still to be announced. the fact they stil need to drill another well and then make an FID also adds to the uncertinty in this kind of market where little issues become big and big issues enormous
as for this P10 and p50 debate, if they were testing P10, then it should have bene clearly stated beofre drilling commenced and we wouldnt have got the initial hammering we did. Its a little bit to convenient to state this after the fact for me. I have to side with PB that the field may be smaller, however that shouldnt change the stock valaution by a huge amount as Gazelle develepment made up about 50 cents of a 1.20 valaution. the developent will allow more field tie ins. the upside ofpcurse that may offest this ( if it happens) is Condor so all in all relativley balanced
RIA Price at posting:
24.0¢ Sentiment: None Disclosure: Held
