Not sure what your post means MK14EVA. Can you explain?Regarding...

Not sure what your post means MK14EVA. Can you explain?

Regarding 88E making it into the All Ords (ASX 500), I view that very favorably. I don't know exactly how it works in Australia, but in the States, whenever a stock is included on such a list (e.g., S&P 500), then all index funds that emulate market averages much aquire a position in the company to fulfill their commitment to investors to match that metric. If company X is deleted from the list and company Y is added, then a lot of Index funds sell X and buy Y. Pricing follows accordingly.

What I see happening right now is that some insiders with sizeable share positions may be liquidating shares prior to spudding. Once the Merlin-2 well spuds, insiders will be prohibited from selling. Everybody knows the spud is coming. So, selling cannot be construed as trading on insider knowledge. Once the well begins to drill, an insider could rightfully be accused of selling based upon not yet disclosed well data. So, there may be some cashing out going on among those who need to sell now, not after the well has spud. Once the well spuds, then those sellers will ride with their residual positions hoping for an oily well. If my thesis is correct, the downward drift in the PPS will end quickly once the well spuds. How far up it will move is anybody's guess. If they hit a large amount of oil in Merlin-2, the upside for this stock could be very significant.