Thanks everyone for your contributions to this thread, particularly butcherano, zaccharia, trender, king, keithallen and mangrove. Your thoughts and analysis have helped me to get a better perspective on the big picture - I admit I was pis*ed off by a short-term movement in the price which I did not anticipate. I lost another opportunity to take significant part profits and so I looked around for someone (other than the obvious - me) to blame.
I still believe that Macquarie's involvement has plenty of possibilities for conflict of interest if not straight out insider trading. Zac, trender and butcherano pointed out that the price may well have fallen anyway because the market, particularly traders, would have been disappointed with the Banda results (gas). I can see that now - but it still disappoints me that the market is not doing its sums on all the other leads and prospects that now look promising.
Anyway, I wouldn't be surprised to see the price back up in the 80s within a week or two particularly if Ching 4 increases the estimated reserves.
It will be interesting to see where HDR opens on Friday.
Cheers
H
HDR Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
