If FAR hit oil the share price will push up massively and shorters will be burnt. If they don't hit oil shorters profit. All that matters is the drilling results - forget chart reading, that's just for day traders chasing the quick bucks.
The fundamentals are the fundamentals, you can't change them and you can't hide results (good or bad from drilling).
Also Conoco spends billions on exploration every year ... not to kill the hype, but putting a few million into FAR in Senegal isn't the biggest investment in the scheme of Conoco's exploration:
http://www.businesswire.com/news/home/20131206005582/en/ConocoPhillips-Announces-2014-Capital-Budget-16.7-Billion#.Uvwwq3kdsy4
how low can she go?, page-16
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Last
50.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $46.20M | |||
| Open | High | Low | Value | Volume |
| 49.5¢ | 50.0¢ | 49.5¢ | $43.20K | 86.49K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 21776 | 50.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 50.5¢ | 94070 | 2 |
View Market Depth
| Last trade - 15.57pm 23/08/2024 (20 minute delay) ? |
| FAR (ASX) Chart |