Unlike some I will not dismiss your concerns as I feel they are valid for most if not all stocks on the ASX.
However I would like to add a couple of things:
-If anyone is sitting at 400% profit and hasnt sold, they are most likely a true FA believer in this company (Like myself, Davo etc) and wont sell now on the eve of such big news.
-Nash and Boling dome are due BEFORE june. MAD announcement states that the production tests will be complete by end q2 2012. Meaning they can come anytime between now and then, and knowing MAD, they will come early (Past 2 reserve increases came unexpected by the market)
-I dont believe the SP is inflated, reserves worth around 500mil based on a recent oil takeover + production making a net profit, 25mil in cash reserves to increase drilling rates and buy more acreage.
-"announcements" may stop flowing in, but news is still awaited in the next 4 days, we will get their monthly production report from the texas railroad commission to confirm how their rates are going. SP should break 1$ if its above 900BOPD (8%+ increase on january)
FDM Price at posting:
99.5¢ Sentiment: LT Buy Disclosure: Held
