Guys, I jumped out and felt terrible at 95 cents. Since then I've been looking for the charts to turn and i think it's nearly time.
Based on my observations the next 120 days will include; 1) December - transfer of funds from Gulf 2) robust drilling plan 3) update on all wells with between 700-800 BPD in December 4) 1000 BPD by the end of Q1 with Gulf 5) the X factor will be high impact wells.
Bottom line is the companies involved know a lot more about the daily operations than we do and wouldn't of wasted thousands of man hours sorting out a JV without real belief in what is happening.
ASX200 also means very high exposure with large investors so a few solid reports will cause a rapid recovery.
IMO we we will see the chart turn quickly from January and be back over 1.50 by mid 2013. I will rebuy heavily at anything under 70 cents
FDM Price at posting:
70.5¢ Sentiment: ST Buy Disclosure: Not Held
