Just an opinion here Nickwalsh,
The GDY SP is still operating under significant risk premiums, as there have been significant problems and failures in past drilling operations. We are only just approaching the highest risk stage, where a slight error in the pressure management could result in significant fluid losses, or on the other hand could result in the spalling that was the primary cause of HAB2 failure.
So, just in my opinion, GDY is still labouring under a restricted SP, and now is a relatively early stage to buy in. I took some off the table after the announcement yesterday, as I see at least three significant, short-term announcements on the horizon. I'll be waiting for the next drilling delay to take more, but I can comfortably do that because I already have the position I want.
This has been one of the major steps for GDY, and I do not think the market has had time to digest just what it means for Origin to be making this move.
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