back to reality, page-4

Well you still owe me two beers and I reckon it will be a slab or two in two years.

much to look forward to:

news that Scrat uncovered about the rainbow acreage request
clarification about the S&A mud logs...all good there
faster drilling and hence savings with Billabong
3 forks adventure will add another dimension
TB inferred other buyers in the wings..not really fussed with the current sale situation and hence may well use this to his advantage

CNOOC...crikey this could be big. High Grading Bluff Federal following refining of the SOA 1&2 Penn/Perm play.

would like more detail on Defender and the re-frac plus 2nd permitted horizontal but as yet nothing from Halliburton. Success in the verticals will see CNOOC money flowing here is suspect.

Prarie. one dud but knowing the play and moving to where oil has likely migrated agains the salt edge.

Price of oil going higher...US economy improving and hence risk on plays will improve accordingly.

So with the trading what does it all mean. Well it shows that the stock can move quite quickly. Imo however with the above points and some patients monday will provide an excellent buying opportunity on the dip, possibly around the low 3s and then bounce back to mid 3s.

Keeping in mind though the difference between the stock being played on news events and the long term opportunity. Bit more interesting anyway.

GLTA