I'd suggest any long term holder is well past the point of heebyjeebies! Frustration about the speed of progress would be a more apt emotion, but whats the old maxim, never trade on emotion.
It boils down to this imo, t.a the chart might have this short term double top and have this long term low you can see like a speck in the rear view mirror and only then if you pull out some binoculars..but I don't think this stock necessarily behaves predictably with volumes so thin on most days, so anythings possible. Meanwhile it seems on occasion someone churns it up only to let the rally fade into what is probably the same party selling. ..as if on someone's string. So why would I put stock in t.a? You either believe you can see that sort of thing by observing the daily trades or you don't.
Meanwhile the wells are on pump and we don't know when we'll get another update which could include details about gas flows. Even if they sub commercial at this early stage , the wait could be about establishing some evidence of an upward trajectory and as coals dewater this almost invariably happens. I don't think the coals at Monslatt are thought to be particularly high in water so the drawdown hopefully won't take forever.
A picture of a historic 2m flare could tell a thousand words if shot from the right angle on sunset with Dr M and JP grinning - as if lit up by the light of a long anticipated destiny. Memories of Sunshine Gas will come flooding back hopefully.
But, we just don't know when this will come, could be the other side of tax loss selling , maybe it won't come at all, but since the capital raising , I'd venture the odds are 7 to 1 that it will .
Chrs
BUL Price at posting:
9.3¢ Sentiment: Buy Disclosure: Held
