In my experience with drills that have been funded by...

In my experience with drills that have been funded by Sophisticated/Institutional investors this scenario is not unusual.

They are possibly de-risking however many are coming in cheap, 67M shares traded yesterday, big numbers most days last week too.

I was on NWE with an average of 0.007, I just checked up on the SP throughout the drill program there, it sat pretty flat around 0.010 from spud, through a CR & 35 days later it went up X 3 on a ‘Significant Gas Discovery’ Ann. In the weeks after that it hung between 0.022 & 0.034 until they finally flow tested the well 8 months after spud. In the end the end the the SP went to X 5 the spud SP on a discovery far smaller than Sasanof & a many, many more SOI.

My take is with Sasanof-1 there is a huge amount to be made short & long term. If they reveal a reserve near the P10 I’d hate to have sold down any shares.

I’m happy to ride this one, if it’s no good there is plenty of scope to drill again.