General discussion thread, page-1282

Well, are we on our third leg of current run?

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Yes BAS gained half cent to finish on 18c. Our volume was good, similar to yesterday, just over 13m shares traded. We opened on 18 and finished on 18, touching both 20 and 17 - so chartists may still like this. A finish of 18.5 or 19 should have been more reprentative/appropriate. But our friends who are strongly with us left it for another day - giving a churn so that some profit takers who are happy can leave.

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So what do we feel - are we on our third leg? First leg of this run we moved from 13 to 16 with 3 green days. Then we had a red day and fell to 15.5. Second leg we moved from 15.5 to 19. 5 again in 3 green days. Then we had another red day and fell to 17.5. Today was first green of a possible mini leg with a green day. If we are disciplined and strictly follow routine, we could see another 2 green days.

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So we got the Operation Update today. Couple of days back I had written that I am anticipating a routine update at this stage - somehow it turned out that way. But it was good report with higher revenue and early March start for Worrior 11 - possible 200 to 300 bopd increase. So its looking very good to me, just on this front.

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And then we have PEL 182 - which on its own can take us to highs many have been talking about now - the $1 figure. So prospects are very good, some ducks have to be lined in a row - let's hope it's a good one with Santos sniffing around.

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So what will happen tomorrow? Odds are very good for another green day tomorrow, but anything can happen, so please dyor. It would be good to finish on a new high 20+, or a new high to be made 23+. Will that happen? Let's hope so. All the best.