I see today announcement as good, at least we are not hearing those duster announcement like
" No hydrocarbon were encountered in the primary and preparations are underway to unplug and abandon the well "
I think Gawain is still alive, and ENI now is trying their best to locate those Gas. Put it that way, they would have finished off this well if no hope of finding any gas - they drilled barely 400m in the last 7 days, and further 200m to go, that will easily cost them over US5Mil. Also as what GO said, some decent bids going around last Friday and today.No logic to me.
Sit tight and lets hope we'll get the 1st positive news from this well.
Go OXX!!!
Cam
OXX Price at posting:
46.0¢ Sentiment: None Disclosure: Held
