we're at a stage now where the 'market' believes all the deeper drill targets will be dusters, the reserves statements are massively pumped and gulf deal will fall through cos its just a used car salesman style tax dodge....
If the deeper targets work, the fairway drilling works and gulf keep paying the money... Well, this could do anything.
Having said that, seeing a 75% odd drop in a few months with some insider selling is never the strongest sign that a company will come through on the other side as strong as prior.
I still hold some, I've lessened off recently due to the horrible TA/charts recently, but I guess I'm not the most objective on this company as my buy price was 21 and I'm free carried 3 times over no matter which way it goes.
At some stage any capitulation will turn and turn hard. Its just whether it turns hard at 50 or at 40 or at 30.
Who knows.
If one of their deeper drilling sites was the 'surest hit' they would probably want to drill it next.
FDM Price at posting:
54.0¢ Sentiment: None Disclosure: Held
