The only operator of interest to us is Hilcorp. Euroz have also...

The only operator of interest to us is Hilcorp. Euroz have also been out to Texas and have reported back favourably on the Hilcorp operations.

The March quarter activities report should be out very soon now that the 2010 statutories have been published.

Capacity issues have been known for some time but major new infrastructure is under construction as you mentioned on [ASF ADI bb] ages ago (I think that's where you posted it).

Investors going long can hold indefinitely. Investors going short have to close out eventually. Perhaps Harbour Advisers (CI Investments Inc) has been buying to earn stock lending fees. But 37% of 410 million is over 150 million and we've not seen the volume. For instance, volume on the TSX since and including 29 March has been c9.3million total. Some of that was snaffled up by Harbour Advisers. It's a bit difficult to total volume from the ASX chart for the last month but it looks like c35 million.

Investors need to draw their own conclusions.

Lack of news and momentum, CGT 12 month anniversaries and switching into other securities to broaden portfolios and to speculate on earlier stage companies could be the cause of some of the volume. That leaves even less attributable to short sellers.