All Aboard- Stand Clear Please- Stand Clear -The MAY train is now departing and is express to 4.8 cents, page-28

Agree with most of what you say except ‘many of the weak stale holders crashed out ….’.
May ‘s announcement on 17th was rather inconclusive; fear drove the price down or those who had jumped in to make a quick buck but lacked any knowledge about MAY or O&G. There could be a few who have very large holdings and thought it prudent to reduce before some really bad news is released. Then there were some long suffering shareholders who were disappointed, thought enough is enough, and decided to reduce their holding. So, probably a mixed bag rather than ‘weak stale holders’
This was an appraisal well - not an exploration well. Any experienced shareholder would have waited for more details.
I have a very small holding in MAY compared to some here on HC; yet against my better judgement (prefer to spread investment over a wide range) a bought a very small parcel at 4c and got rid of it today. Would have been better if I had waited a few more hrs but I needed to stay within my quota for May. In any case, amount in $ was not much and except for personal satisfaction, did not mean much!
My original holding is still intact; like you I am optimistic that May will deliver- eventually.