director sold 1 million shares last friday, page-24

If the next ann comes out with good flow rates that have been sustained for a few days then the director is off the hook. If the ann is bad news and it turns out this had been known before his trades (and not declared to market!) then his position will be a little tenuous in the eyes of ASIC.

Maybe this is why the ann is delayed - director sweating over how to release the news AND stay out of prison.

Personally I believe they wouldn't have had more info than was already released to the market. Though I like the company and feel that it will eventually be worth dollars per share, I would have thought a rise to around 25-30c would have been more realistic (given it was undervalued previously at 13c (I feel it was worth 20c) and this ann added several cents value.

The news has to be pretty good to get this back to 35c, though if it is sensational who knows where it will go.

On a brighter note, the oil price continues to climb, now hitting $85/barrel. Other oilers are trending upwards.