Ann: Halifax 1 Well Spudded , page-17

G'day Strongy1986. With the introduction of legalised manipulation of markets, and there is no other way to describe it, sadly, I can't even hazard a guess at your very reasonable question.
ICN shares have been under the influence of algorythmic trading, manipulation, now for over 6 weeks and nothing appears to be worrying anyone who are in positions to do something about it. It IS legal. But, we are now into our 2nd week of what the whole O&G industry, and most financial analysts, agree, should be a massive result from Halifax-1. They used to call them company makers, but, what has happened to our SP?? Bugger all!!!
The bot is still having a ball and no sooner had the SP started to creep up as everyone would have expected with the early spudding of Halifax-1, than we see a massive 770,000 block at .24!!!
So, how can anybody possibly answer your question with such "unusual behaviour" taking place with our SP? We have seen highs of .67 and .435 since the GSA was announced, but, that was all based upon blue sky hope and pray stuff. We got a 20 year $30 billion GSA to sell gas and we didn't even have enough to fill a BBQ gas bottle!!!, yet, the SP soared.
Yet, here we are in what Beach Energy, NOT RJ, is expecting to be a well which will confirm the legitimate potential of at least 300TCF of the stuff and our SP is being strangled to death!!!
Elementary logic, in the good old days prior to algorythmic trading, would have had SH reasonably expecting to see at least that .67 being retraced, and much further. A few months ago we also ssw what we considered to be an "artificial" block of 3 million shares put up for sale at .30 and that held the SP down for weeks. But, it was taken out in just 2 sales by "someone." So, maybe, we can be somewhat optimistic in knowing that in very recent times those apparently stunting blocks can be taken out IF there is sufficient good news to attract such buyers.
BPT is the operator of Halifax-1 and we must rely upon them for the release of infomation, but, they are excellent communicators with all of their other wells, so, it is not unreasonable to expect them to give us fairly regular updates, be they weekly, I couldn't say.
BUT, do not forget, many "outsiders" are watching this well very closely and BPT are also MOST anxious to attract large outside funding to proceed with 855 and I would guess that they will be getting as much info out there as possible and as quickly as possible.
I'm guessing that "action" won't start with the SP for at least a few more weeks while that 770,00 and the bot are still around, but, my confidence is as high as ever that when we are getting closer to TD, we will start to see that SP re-trace commencing in earnest. It's a cliche I know, but, we just have to be patient for a while and let actions speak louder than words (and computers).