Taking your question at face value: - my chart shows the Bullish...

Taking your question at face value:
- my chart shows the Bullish Symmetrical Continuation Triangle breakout which Recognia software also detected and they suggest 43c in 45 days as a result. I can’t see the hoot that V_H was referring to, but sounds like he is also targeting that level. I would caution that although there was increased volume a few days ago, yesterday was back to relatively low volume again. In general going up steadily on low volume is a good thing as it shows supply has dried up and the move is sustainable. However, for a breakaway move, you would hope to gap up on a volume spike, which wasn’t the case - personally, I’d like to see that gap to 31.5c close quickly then we can get on with it. I can tell you now, me and Cône aren’t getting our 28c Buy orders filled, fuggedaboudid. My view is we should test 33.5c in the ST and if we can crack that then we’ll move up to 37.5c resistance over the coming weeks in anticipation of a restart and hurdle it when it’s announced.

- markets are forward thinking. The company has told it how long before restart if they leave it to nature:

On the assumption that natural processes continue, and that no more substantial rain is received, it is estimated the road will be open to light vehicle traffic in approximately 4 weeks and to heavy vehicle traffic some two weeks later.




And left open the possibility of expediting the process:

Numerous options are under consideration to accelerate this process, including transfer of water into adjacent drainage areas and a road diversion. (has anyone checked with the company if any decision on this has been taken? I hope they update us soon, if they are trying something else, let us know, if they decided nature was sufficient, say so please.)

So it should be no surprise to anyone that the SP should now move up in anticipation of the restart. News will flow at nearly as high a rate as the luvly oil. We already know they will hook up U4&5, conduct flow tests on live production and 3000bopd is targeted. We know the dry season drilling campaign has a certain window of opportunity and lead time, so associated Anns are due with potential partners being introduced. Etc.

- oil has simultaneously broken out of it’s consolidation period. Currently up again overnight at $66.17 Brent price with A$ struggling to hold $77 (my chart has $78.82 as support, so look out for that...then it dives to 75c). It’s currently only a couple of A$s off the A$88 Jan high and no doubt heading for A$90s for our first boat with A$100+ inevitable = A$300k revenue every single day. Get ready for BRU SP in the 60cs. Not tomorrow, not next week, but suggesting it doubles by mid-year is not a particularly outrageous call, IMO.