On AIM, Borders and Southern Petroleum (AIM: BOR) fell 30% today, despite announcing a condensate discovery. BOR is quite similar to RMP. Both rose up to silly levels pre-results (BOR rose 100%, RMP 300%), as private investors hyped it up. Even now, on a discovery, there's been a large fall, because a massive discovery was already priced in.
You'd have to say a huge discovery is now also priced in with RMP. Or else what do you think a rise of 300% pre-results is?
With that in mind, even a discovery may well see this fall. Private investor expectation is so great that unless absolutely brilliant (and unlikely) results are achieved, a mass sell off will come IMO.
RMP Price at posting:
48.5¢ Sentiment: Sell Disclosure: Not Held
