Edge of the seat is where I am!I paid for my new shares...

Edge of the seat is where I am!

I paid for my new shares yesterday. The new shares look like a pretty clear case of getting cheap shares for profit (at first I had the worry that it was for insurance, but this doesn't seem to be the case). It's perhaps not the nicest way to do business, but the economics look excellent if this well goes well, it looks like it should be great and the directors have a lot of their own money on the line which shows they expect good things too. That being the case, it looked like a good idea to take my slice of the pie at 12.5c. Just on speculation we got up to 27c not long ago, 14-15c shares on offer at the moment will look very cheap if this well has the results we expect. After the mechanical issues in the last one everyone is spooked, and being spooked in a situation like this can easily put a share price far too low.

Hopefully when we have some results for this well the economic sentiment will be a bit nicer. If things were announced on a day like today it would likely fall on deaf ears, even if the results were brilliant. In terms of market sentiment, 2-3 weeks is a long time, so fingers crossed whatever is in the news in 2-3 weeks is more positive... quite likely :)