I would suggest that the results of the wire line logs will require more than just a line on the weekly drilling update.
The specifics of a large oil column would probably justify an announcement to the market as soon as they are in the hands of STO. I don't believe it would be good management for them to sit on results until the next Thursday report.
The risk is that STO are having a few issues with pressure in the well and are unable to get good logs at this stage. They know they have something significant but cannot quantify it. My tip is that the market may sell it back to 30c. At the end of the day the sellers were most likely the day traders who got in on Tuesday expecting the results out Thursday.
Fact is this thing could blow as soon as the logs are done and the results get through. If it happens on a Thursday report more luck than management.
***the sell-down?????????***, page-5
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Last
10.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $73.32M | |||
| Open | High | Low | Value | Volume |
| 10.5¢ | 10.5¢ | 10.5¢ | $475 | 4.526K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 354171 | 10.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 11.0¢ | 726785 | 15 |
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| Last trade - 14.14pm 12/07/2024 (20 minute delay) ? |
| CUE (ASX) Chart |