The stock had a huge run up from 4/6c (options / heads) in the weeks before xmas to 20c+ not long after. Inevitably it slid back to somewhere inbetween until the next substancial rerating takes place. Flow rates from these wells is unlikely to have the massive impact on the share price everybody is hoping for. The market is going backwards and resources are being hit particularly hard. Flow rates from a couple of wells isn't likely to offset this in any significant way.
Also coming into a 5 day weekend many positions are being closed down and the current market is exagerating the desire to lessen risk over such a long non-trading period. This is likely to have a continued impact this week unless we get a major trend reversal from overseas.
The stock still has massive potential and I'm still looking for 96c like many of you but I'm not counting on it jumping significantly in the next month or two. Results from the other field are the key not those from a proven area. Give it a few months and we will be counting the dollars, not the cents.
SSN Price at posting:
16.0¢ Sentiment: Buy Disclosure: Held
