Why has everyone pushed the panic button oh dear the SP fell to...

Why has everyone pushed the panic button oh dear the SP fell to 9.5 (1cent) it went down to 6.6 at christmas (some people have short memories) If you all remember farjoy bought more at 13cents now why would they do that if they had no confidence in what reserves they have?  
The SP could go down to 6cents again before the drilling commences.. if it does who cares accumulate more shares and average down.  Cairn IMO after india cant afford to lose on senegal by  pumping millions of pounds into the drilling, if everything was a duster then why not tell us from the offset.  This stock is 12-18 month long term IMO before potential TO but if thay doesnt happen you can hold and wait until production then reap the $$$$.
As a second to that why would far employee Mr Ramsey whio y has over 30 years' commercial and technical experience in the oil and gas industry, most recently with UBS Investment Bank in Melbourne where he was Senior Energy Advisor-Investment Banking and Managing Director - Head of Energy Research for 11 year.  If they thought it was a duster.