There is some good volume going through today given the small ASX trading between Christmas and NY.
Based on the MAD presentation there should be an announcment today or tomorrow on the transfer of funds from Gulf South for the first of the Wells.
With a bit of luck that will come with a 'road map' on where the company is going in Q1 2013.
I'm looking for a re-entry piont now. I brought some this morning at 68 cents and plan on growing my position from this point onward.
IMO it cant get much lower. It would surprise me greatly if it drops below 60 cents. Despite what people say 700 BPD of high grade oil without a Gulf program tells me that number is baseline and with the right roll out program should be well over 1000 BPD by the end of Q1. Thats only 100 -120 days away.
FDM Price at posting:
66.0¢ Sentiment: Buy Disclosure: Held