Hectothe report referred to the well update they issued when...

Hecto
the report referred to the well update they issued when they were drilling the shallow (first 4)upper sands a few years ago....same formations, location not far away so chances are they will get the oil shows again.....99.9% of punters will not realise those shallower formations were drilled a few years ago.....

DJ...I agree the sp is lower but remember there are also a packet more shares on issue so market cap is roughly similiar to last time....obviuosly when you are relying on punters anything can happen, certainly if they all jump on board and start ramping...

Of course it is highly likely that the lower formations will also have signs of oil which would add to the punter interest and rise....I was looking at it more in the light of a very low risk,almost dead cert trade....obviously the longer you hold the higher the risk but also the higher the reward...I personnaly would not sell becouse I am quite positive the well will be commercial....
Cheers