Groucho, I agree, 150MB in one hit sure beats waiting for the small ones to accumulate. The former could happen within 30 days of spud date while the later scenario may take months if not years.
Rizzla, knowledge of the spud date seems more a psychological milestone for the market of proof the event is about to happen rather than the kind of limbo oilers go into when good acreage is landed, seismically tested but is yet to establish a timeline to the drill.
Often (not always) that spud date announcement is a trigger for the sp to commence a gradual rise. Much depends on how far out the date is, the target size , sovereign risk, drilling risk etc. Most of these factors are in our favour and if we are a June?July spud timing would also be onside.
Part of the rise is new blood coming onboard, in particular traders that expect a quick gain within a short period.
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