baraka petroleum - new float onshore mauritania, page-10

If they are not drilling for a while it is usually best to wait until after the float to buy in.

With no activity there should be a price stagnation and a chance to buy lower than the float price. The seed investors will be selling to take a quick profit (even at prices lower than list price they will still be making a healthy profit) and this often forces the price lower if there is no activity on the ground to make other traders/investors buy in to support the price.

And in the current market any float is a risk. Even oilers.

acrturtle