big watch here..., page-6

lust...

First 2 of 4 target horizons in P-9 have hit hydrocarbons...still drilling so no drill string tests yet, which means nothing for the market to really hang it's hat on.

In contrast to the other development wells, this was an exploration well...a decent hit here will add considerably to existing economics.

AED has has a nice rise today, but frankly, was soft enough towards the close not to be particularly convincing...as such, it could move either way tomorrow.

Recent trading history suggests a possible pull-back over coming days...but the immenent news may have an impact on previous patterns here.

Plenty of disgruntled holders, perhaps upset with the ongoing delays, so there may be a little more selling pressure to come near term.

With two more targets to hit and obviously results of the DST tests to follow, it should at the very least be a good trader for a little while.

Of course, any good news from the tests should underpin a decent rise.

Forward resistance lies at 94...97...$1.00...1.09...$1.15...and finally at $1.21.

After this it's blue sky!

Cheers!