Agree, good announcement and well timed given the DOW increase overnight.
This should:
(a) put a floor under the sp; and
(b) put a stake through the heart of all the Cassandara's out there.
Will not see a "massive" revival in sp, IMHO, until HZN banks the cash from its first cargo sold (expected late April 2009).
Pricing on cargo is at Brent (plus or minus a small amount) given the grade and waxy nature of the crude out of Maari Oil Field. So let us hope and pray that Brent is closer to US$55/bbl than US$45/bbl.
Cheers
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