looks like its going to close 40cps gap

i have no exposure to inp and far be it for me to downramp any stock but i must admit from a strictly t/a perspective i always suspected that huge gap up from september 2007 would one day get filled.

fundamentally it shouldnt based on oil in place but history does have a pattern of repeating itself. inp came out with a similarly huge announcement in early 2004 with large gaps up as the sp skyrocketed, only for it to move into a subsequent downtrend that lasted for around 3 and a half years.

i suspect the issue is not how much oil they have in place, rather they are going to have significant problems getting it out of the ground with decent flow rates.

investors/traders soon get bored with any story if there are not fundamentals as in $$$ there to support the price. until inp start pumping oil out of the ground, selling it and raking in some $$$ the sp will continue to slide to levels a lot lower than where they are now.