looks set for next leg down, page-2

We can only hope that the Oil Search report next Thursday from Yemen reverses the entiment. The next well north of Nelson in NZ also has promise.It too has a 1 in 10 chance at best.Cash reserves are still good and they will have a change of luck IMO.They did find a new field in Bass Strait and the first well in Yemen is likely to be a producer. The second is getting oil and gas shows well before target depth. Do I detect a little downramping in some of these pessimistic posts??The reserves they've bought cheeply in the US should help to replace lower production at Tui. Wells in the Canning could also come to their aid. Buru will be drilling more wells and AWE has a good slice of that company.It also seems to me to be a very well run company.I'm a newcomer, but I'm well satisfied with my current average price even if I'm behind at the moment.It remains a very good buy IMO at current prices.