buy depth evaporates, page-22

ADX is not going to hit 18c. Weak hands are being forced out now by people in the know. ADX should imo commence spud mid/late next week. There will be a very nice push before spud don't worry. It looks like they're saving the action on ADX/PAA/CAV till next week as one of the drilling partners comes off suspension on Mon, all the others have had substantial rise, it wouldn't be fair for the last partner if they come out TH & spudding news is already gone.

Also reading some past announcements of oilers hitting the good stuff in very recent oil drills in Tunisia should heopefully put some shaken minds at ease:

http://www.youroilandgasnews.com/omv+drills+successful+exploration+well+in+southern+tunisia_50824.html

"OMV, the leading energy Group in the European growth belt, announces a new gas-condensate discovery following the successful drilling of the Ritma-1 exploration well in the Nawara Production Concession in southern Tunisia. This is the seventh successive well to encounter hydrocarbons in this area in the last four years, and underpins the significant potential of this block and of OMVs surrounding exploration permit Jenein Sud".

"This is the third well in the 2009/2010 drilling campaign designed to identify additional gas-condensate resources for the planned Nawara Development Project."

Also to note is that the same managing director who led OMV to success in Tunisia is at the helm of this Tunesian drill. "The drilling of Lambouka is the culmination of years of planning by AuDax managing director Wolfgang Zimmer, a seasoned oil man best known in this part of the world for once heading up OMV's push in to the Australia oil and gas scene"

The MACD may have crossed down but that can change in an instant. The stochastic is oversold and that goes in line with ADX being pushed down with non-action this week. Healthy consolidation on weaker volume has played out and ADX is now in a strong position to run higher next week amid spudding. The stock has corrected nicely and is technically in a good position to rally hard next week when momentum and volume picks up. Smart traders would be buying today imo.