agree completely with the sentiment of this well, fear of FO news leak and 88E at the moment Doc.
there are so many could be reasons for this SP behaviour pre and post spud and now drilling - all of which was on plan.
could be leaks of news ?
could be the CR buyers wanted out before drilling and were here hoping for a 10-20% gain, now dumping to avoid any loss
could be confidence in 88E to find oil
could be confidence in 88E to land a FO
either way we don't know
but, we do know
1. they are drilling
2. there is oil (have to hit the spot and see its commercially viable)
3. they have some cash in the bank
4. they have some interested parties for FO
5. study of HRZ continues in background
equal risk and reward ratio I think, 1.8c could be 3.5c quite quick with good news , equally 1.8c could be 1c with bad news
think I will hold for drilling results (or read between the lines of the early indications reports)
88E Price at posting:
1.8¢ Sentiment: Buy Disclosure: Held
