when pep11, page-18

Moveonup,

When MMR announced on 29/05/09 that Jackup Rig Tenders had been let to invite drilling rig suppliers to tender for the drilling of the first PEP11 project offshore in the Sydney Basin the share price jumped from .14c to .57c over the following 3 days as investors poured into this very tightly held ( tax free) stock. Share price retraced back down to the mid thirties over the following weeks.

My only regret from that original first drill is that i didn't accumulate more of this stock when it was languishing at .09c for most of the previous 12 months leading up to that initial announcement that put a fire under the share price.

Whilst no one can safely say where the share price will be in 12 months from now, you will need to take a longer term ( 12 to 24 months IMO) view with this stock for sure!

As always DYOR....

All the best with your investing.