Maybe. But have been on that horse several time before: the spud rally, the drill rally and the stagnation, then the results (and ultimate sell-off). Very easy to "buy into the hype" of a drill at this stage, when it is actually the best time to sell (I am a firm believer that "markets always look their best at the top, and, conversely, their worst at the bottom".
The I*Z horse has run its race. They have hydrocarbon shows etc. but are a heck of a long way of anything of significance, and, at best, some will take their money off the table and look for the next best thing. MAY, on the other hand, has been battered from pillar to post recently, even when the fundamentals suggest otherwise. MAY is about to spud A3, and by the time everyone is talking about it (give it two weeks until the hype kicks in) the SP will be mid 7's at worst. Now is exactly the right time to be getting in (or doubling-up) on MAY: the noise is yet to start, and the flows (from other puppies that have run their race) will soon start to appear. Seen it all before, and will see it again no doubt.
Kit.
MAY Price at posting:
6.1¢ Sentiment: Buy Disclosure: Held
