IMO, I dont think the SP has peaked. Yes - SP has consolidated...

IMO, I dont think the SP has peaked.

Yes - SP has consolidated under $10, after just 1 well & what it holds.

No - B'coz there's more to come IMO, pending the results of the next 2 wells :)

Thats my 10 bobs worth !!
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As for the Directors selling, lets get this clear,

1) Bob sold 750k out of his 12.388 million.
U can work out the Percentage. In the words of Mic Dundee. "Thats not a takeover". More of upgrading from the doghouse to a bigger Boathouse for his stash of surfboards.

2) While Smithy could probably b moving to a bigger Townhouse/Penthouse, after selling 600k out of his 2.405m shares. Again psls calc the percentage sold & held.

IMO, if this pattern becomes regular over the nxt 2 months, then I'd say something's brewing. In the meantime, dont think so in my view, too early to sell KAR for Bob.

Also, keep an eye on the fox in the coop, Talbot Holdings.
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Simple maths, Conoco paid ORG $9.5b for its 2375.5 PJ

Dont think the Silver Surfer, will sell out for even $2 billion, when each prospect in the Browse with resource of 7 TCF is valued at US$5b. Thats US$15b or A$19.23b for their Browse basin acreage alone!!. They can sell 10-20-30% if they need csh for Brazil/Peru drilling.

They have $0 Debt & $225m Cash. They are easily covered for the seismic program in AC/P8 & the next 2 wells & yes they r vulnerable to the Predators out there.

IMO, nothing can stop Conoco or WPL from buying half or 100% of Karoon's 40-49%% share, if the offer is better then what was paid for Origin, IMO.

For now we wait for the rig. Plenty of fireworks to come.

cheers