Freehold,
Re "How strong the price response is depends on how much oil/gas is found... if at the upper end the price of the stock could gap up very strongly 100-200%+ initially so many will position themselves prior to the result being known to gain exposure to a move like that."
IMO, the positioning will start not when they've got a definitive result of a find at TD, but good signs of hydrocarbons at the first ZoI which is only probably 10 days away. This is assuming that they announce something to that fact (unlike Sunbird). But this one has not been defined as a tight well anywhere that I can see.
KKW
ann out, page-17
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