You have to remember that this is a bear maket that we are in. Any premature excitement is going to be muted by the Dow plummetting another few hundred points. Hopefully the market will have gone through the worst of it when the real excitement builds on the first drill. That is when we could see some real movement.
HDR was in the same position all those years back. The knowledge of the potential of the Mauritainia blocs was known to the market as far back as 1997 and then there was completion of the 3D in 1999 and the first drill in 2001. the SP was about .06c and fluctuated between .04-.08 for a long time and went to about .13 after the 3D and then to .33 prior to capital raising for the first drill. It built to .45 at the time of the start of the first drill. fell back to about .35 and spiked to .70 on confirmation of oil. Interestingly it went back down to arount .35 for a while prior to the Tiof drill. All this was happening at the same time as the Tech Wreck. Other HDR holders can correct my recollection of events.
If the potential in Senegal is greater than anticipated and certainly a few gushers on the first few drills could see a share price in the stratosphere. Peak share price could be 2-4 years away.
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