DJ1, probably the case, although the buy depth has beefed up now. Should see it get back to 36.5c soon. I wonder if any of the 37c sellers will pull their orders if we get a strong push up. (I would)
Flow rates From the Patterson's report:
MAE remain confident of achieving its 20mmscf/d target rate - once achieved this will be a significant catalyst
MARION ENERGY LTD (MAE) - UPDATE BUY We maintain our BUY recommendation and a price target of $1.49/share based on a risked valuation of booked 319bcf of 2P reserves. The March Q will be a critical quarter for MAE with targeted increased production and a reserves upgrade required in order to progress corporate level aspirations by mid-2009. Should production targets be reached shortly, followed by the upgraded reserves assessment, we remain confident that this will provide the necessary catalysts within this timeframe.
MAE Price at posting:
35.5¢ Sentiment: Buy Disclosure: Held