drill baby drill??, page-13

well researched huh?

The New Zealand mob (insto if you like) are Prospect Custodians and they hold as at 31/10/09 (form 604) 12,048,738 shares @ 8.80% of issued capital.

Since 26/03/09 they have purchased 9,869,243 shares or there-abouts spread over 39 transaction days(either as a result of on market purchase, capital raising allocation or conversion of options) at an vwap of 61.8c. Only once have they purchased stock over $1.00 and that was a one off at $1.15. Twice they bought at around 99c and all other purchase were below 95c.

Based on the information relased on market which is mandatory for substantial holders they are not the party who ran the price to $1.51. Their one off purchase at $1.15 was for a significant amount of stock which you will find was substantially derived from the Pretorius sell down which saw him ceasing to be a substantial holder.

It does appear however that IMO they will support purchase at around these levels.

As you say DYOR

Cheers