rrs. my support has been rewarded., page-12

Fang, it's your money and obviously your choice, but with a stop loss at 26.5c you're only allowing for a 10% drop before bailing.

10% drops on the AIM at least (which will be followed up by the ASX, as the ASX follows the AIM) are not really something to get massively concerned about in oil and gas exploration companies. By the same token, a 10% rise isn't really the time to be cracking out the champagne either.

This will rise until the spud date as people are massively impatient and would rather pay higher prices with results in 2 weeks than lower prices with results in 2 months.

There will come a time to take profits if that's what you want to do, but that time really, really isn't now IMO. There's no drilling risk in just simply holding for another 6 weeks until spudding you you'll probably get to sell at higher prices. Prices rise on anticipation of success usually. Some examples on AIM:

TRP= rose from 2.75p to 4.5p in the 6 weeks between mobilisation and spudding back in early 2010.

DES= rose from 80p to 165p once they started drilling their second well.

AEX= price rose from 10p to 24p back in early 2010 when they were moving to drill a prospect in Tanzania.

All of these companies were targeting similar reserves to those we are targeting (in Georgia that is- if Puntland mobilises we'll be targeting bigger prospects than any of them).

Now isn't really derisking/profit taking time unless you need the money, IMO.