article on exxon's 'huge' find in vietnam, page-8

In the interest of keeping this discussion fair and balanced i partly agree and partly disagree with some statements made.

"If this is such a "lay down misere" as you all seem to propogate - then why are all the much better informed fund managers and/or brokers not all over it and buying up big for their clients??

Answer - because it isn't yet."

I agree, the market will not be happy until commercial flows are verified. At this stage some announcements can be interpreted as positive by some knowledgeable posters, however, from my lay man perspective they have just improved the odds (the degree to which may be argued) in a very speculative game here. So for the oil and gas punters/experts could be a big PLUS, but from brokers probably just a watchlist stance for now.


"A positive test is the only thing that will drive the price and a CR is coming pre Christmas - no question (based on the consesus of brokers I talk to). Fundies will buy once there is a clear path forward - not before."

I think it is still premature to talk CR. I highly doubt pre Christmas we will get one unless it is on the back of a great commercial announcement as management try to raise at a higher sp. I just think there is enough cash in the bank for the moment, unless management can foresee an urgent need to raise. I guess next quarterly we will get a good idea.

If we cop a CR before any positive announcement, well at least i will see the irony in what awaits us in our Christmas stockings - for 2013 anyway.