I think by & large the prior communication about the shallow oil...

I think by & large the prior communication about the shallow oil has been OK. At the end of the day how much are your expected to hold the hand of investors about more technical stuff? They've long stated that the oil is heavy (API 11 for 1A) and that it flowed in one part. I think people will always interpret the data (or the gaps in what is unsaid) differently and you'd go crazy as a company trying to allow for all the potential different interpretations.

I think (essentially) what's happened is that this was priced (pre-announcement) for running on a on free flow from the lower sub-sections of Amistad (given assumed marginally higher pressures and temps at the slightly deeper depth and thus potentially lighter more pressurised oil). When that didn't eventuate, that near term upside evaporated and the traders / shorter term holders moved to quicker news flow stocks. The mass exodus then triggers stops and confidence as people start second guessing themselves and it just snowballs. Now that the shallow free flow upside is gone people's timeframes will reset to A3 (which is still slightly unknown) so until that is resolved I think this drifts on boredom / impatience. Then people will start re-loading once they are comfortable with the A3 timeframe.

The only other catalyst for a positive re-rate is if they drop a decent resource upgrade and field development plan (inc timetable) for Amistad. If I were them I would be smashing that out now concurrently with (or ideally prior to) the A3 drill. As a layman, I'd have thought there would be nothing preventing doing both concurrently even if A3 proves a massive bonanza. To my mind if you have an earnings positive project why not execute it. It would be a bit like refusing to sell Bin 389 because you only want to sell Grange.

But in short I think the share price now becomes a tension between the bored and those looking to get set as low and large as possible / not miss out on A3 &/or Amistad development plan.