closed at 71, ann. out @ 3:56 - nice :-), page-57

re: trender and towie hdr is worth $1.25 easily - trender2, you seem to be the only one here with a handle on it. They have found a lot of oil. Industry analysts are clapping their hands, it appears though the punter is having trouble understanding the progress . Before drilling commenced the estimate was 100m barrels, recently it was revised up about 50%, and they still have plenty of holes to drill, anything up to 24 in total. The initial estimate of 100m barrels was extremely conservative based on the quality of the seismic data, in all probability the data indicated they could see as much as three times this, but of course the company had to be very conservative.

Locally the company has been undervalued since last years drilling where they found gas, and not much oil, the price went south too far and I guess a few speculators got their fingers burned. This time however the oil flows are substantial and the price will be set by overseas market makers.