What will happen if no announcment is made by the end of the day.. chances are it'll close 15.5 or 16c.
What does this tell us, they may have experienced delays and do not want to give us another 'general update' saying they had to have a bit change.
Or they are simply still drilling through the lower barker, and as they are close - will wait until they drill straight through before announcing.
2) Bad announcment today - delays confirmed and LBC yet to be intersected. Well SP already reflects this scenario.
3) Good announcment today - up she goes again to 18.5-20c
4) Worst case - LBC is dry. No gas. Likely to end at 14c or so if this happens. As Alkali is below.
My suggestion would be to hold now as they bottom two are unlikely to happen. My guess is that they are taking their time and drill rates are slow. My feeling is that they will not announce until results from LBC have been confirmed - and would rather keep the news of minor delays from us and just report once they have drilled through.
Keeping in mind minor delays at these depths take around 24 hrs to resolve.
GDN Price at posting:
15.0¢ Sentiment: LT Buy Disclosure: Held
