Bit disengeneous Jim. The market over the last few weeks have...

Bit disengeneous Jim. The market over the last few weeks have not involved "all the investors" or even most of the investors. It would appear that the turnover in the register over the "announcement reaction period" was about 20% of the total. And I think the reason given by Mike is probably valid for many of this 20%. And a few 'trade the news' types as well.

To be more specific, I would argue that those who never truly understood what they were investing in, probably never truly believed it to be 50/50. But the extended well completion process rammed that home and they priced their risk aversion.

Meanwhile approx 80% of the register have still held. We await the flow.