It has suffered by going too high, too early and too many burnt...

It has suffered by going too high, too early and too many burnt on the fall. Seeing that pattern always makes me nervous. When it spiked a year ago it was still ages from potential production. It is now imminent (NB they are a producer of oil already - though at this stage it is early days with that and oil income is only worth about a hundred grand a month from one well. There are more coming on line within 12 months in same and nearby formations so expect a fair success rate.

They are in a similar position to EMR, AKK, and WGP of the stocks I follow - lots of projects going ahead in the next 6-12 months that should increase value if they have any success.

If I hadn't held much for over six months now I would however be tempted to sell some and plough it into EMR for the run up into a potentially massive canning basin prospect now drilling. Alas no spare cash and reluctant to sell at lows as soem stabilty seems to be creeping back in in the USA so specs should start to hold ground better now and probably run again in a month or so once some confidence has returned (providing Friday's possible New York "Dirty Bomb" does not become a reality (great publicity for my few remaining U stocks - NOT).