The market is going to have to wake up now, the volume today is huge and we still have the rest of the day to go. While no commercial flows have been announced the sp should be sitting on the other-side of 40cents.
I agree that now we will also have the flow on effect on articles on the weekend,other media, people chatting etc etc, should see more buying over the next week. QBE is stealing the headlines today.
Also why are people hung up on the 1 tcf, that was the low estimate of the range. Look at the announcement, nothing dry about it:
"it is certainly well within the range of pre-drill estimates as previously reported by the Company."
'Certainly well' doesn't sound like just making the 1tcf marker does it?
NEN Price at posting:
33.5¢ Sentiment: ST Buy Disclosure: Held