Ann: Echidna-1 Progress Report No 3, page-48

They (we) plus newbies will be back getting excited no doubt, after it has had a few weeks of momentum climbing. I agree stevo at this time I think many are exhausted trying to figure it out and what will be will be. Some have given up and many others cling to belief it will get there eventually.

On a fundamental basis I don't read too many people who say it is overvalued. Yes cash draining as we drill but success rate finding oil seems to be continuing and oil can only be in a cycle ( clearly bottom of cycle). It simply has to pick up due to supply/demand - the world will not drift into recession and demand will only get greater 'Peak oil'.

We just have to sit tight and hopefully not too many of us are reliant on an income from it in the short term or subject to tight margin calls. For me it continues to feel like the overnight 50% jump type of stock and I want to be sure I'm in when it happens.