Exactly smallfish. Hyping expectations can have a negative backlash when those expectations are not met. These expectations have not come from the JV partners and are just pure hype. My expectations on the farm out are set for end of 08, just like the company says.
I think people are just hungry for things to happen and this has been exacerbated by delays on Galoc, but look on the bright side, Galoc will happen soon and the JV partners will start drilling another two low cost, low risk targets in Sep and Oct, with hopefully a nice fat farm out in Nov or Dec.
merrill lynch, page-5
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