In spite of the decades I have been playing the ASX, I'm still amazed at the way a lot of people are played by the traders and fund managers.
The MAY delays in Alameda results are as much a positive as a negative IMO, the caution that AP is displaying is because of the scale of the resource that he is dealing with. Has everyone forgotten the label 'globally significant' which was put on Alameda by people who are life long oil exploration professionals? Does anyone think that the oil just vanishes?
The MAY share price will be bounced around for a few days, maybe a week and then the anticipation of Alameda test results (admittably partial) and then increasingly Zapato news flow will make that unsustainable and the SP will start moving up again.
Oil exploration is a fickle and non linear business but enormously lucrative if done right combined with an ounce or two of luck.
It also requires a degree of patience.
Lets get past next week and then it will be back to everyone avidly watching the screen and anticipating news flow.
GLTH's.
Ann: Preparations underway for start of Zapato-1 exploration well, page-352
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Last
3.3¢ |
Change
0.001(3.13%) |
Mkt cap ! $111.2M | |||
| Open | High | Low | Value | Volume |
| 3.3¢ | 3.4¢ | 3.3¢ | $67.83K | 2.054M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 254456 | 3.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 3.4¢ | 1556167 | 6 |
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| Last trade - 15.23pm 27/09/2024 (20 minute delay) ? |
| MAY (ASX) Chart |