One thing I learned holding oil stocks is that rigs are leakier than sieves in the days of modern telemetry.
You've got the rig crews, contractors, the real-time data operators, the office staff of ALL the JV participants, the office staff's family and friends and most probably the guy who cleans the toilets all updated on what happens on the rig in real-time.
If an oiler currently drilling starts rising on strong volume for no apparent reason, it's a fair bet there's some good news that's leaked...
JKA Price at posting:
6.8¢ Sentiment: None Disclosure: Held