OLdizzy, if the price falls further on larger volume then i would be concerned. I have the luxury of waiting as i am not holding a parcel.
IMHO either way Santos will need to decide next week!!
2 scenarios
Santos goes ahead with Phase 3 - CIG should be worth more than what it is now and have a future
Santos says not not interested - CIG price tanks on ann and falls to new lows
Its probably best to wait and see what the ann brings. If positive i will buy and absorb the rise as its a long term play. If it falls i will scoop shares really cheap and hold as another JV partner or caspian will drill alone and keep 100% (longer alternative). I dont think they will go bust they still have the option of leasing rig for money (which will be used by santos if they go ahead with Phase 3)
One would assume earning 20% interest plus revenue from drill rig lease to santos all year CIG will be earning $$$
DYOR both outcomes have their positives but one is more beneficial to holders in the interim!!
CIG Price at posting:
11.0¢ Sentiment: ST Buy Disclosure: Not Held
