update out, page-72

Exber - totally agree with your logic - IAU has been on my watch list a LONG time so good play there.

I feel that the NWE SP has "settled" as the excitement has exited given the frac equipment is with AWE now - however how long this "holding pattern" remains is anybodies guess.

I agree with your thoughts that the SP will rise again before next Thurs - the real question is which day will the traders decide to move in again?

No surprises today that the EU let the world down again - they won't fix it till it really is beyond repair - so that may impact the overall market today/tomorrow. Though given the market knows there's a frac in progress and results/updates due in a very short time frame - I think NWE will be shielded from this.

If the frac wasn't in progress - I would have bailed myself at anything over 9 cents - but for me thats the real reason to hold in that the frac IS in progress.

Given the fact that the frac program IS underway and the general market will be taking a negative direction - one could possibly speculate that money may even move IN to NWE on these down days given the impending news?

Who knows - all I know right now is the downside is limited (for now as it's an 8 week program - though the closer we get to the final drill result - the closer we are to the actual findings, which is the major risk here as there's always the possibility that flows won't be commercial) and this limited downside means I'd rather have my money in it than out at this point in time.

Regardless - great work on IAU - I did the same with MEO on the last NWE spike so I know how it weird it feels to be out.