Down 8c / 1.6% on opening.I spoke with representative from...

Down 8c / 1.6% on opening.
I spoke with representative from Karoon yesterday for about half hour.
They too are perplexed on the share movement.
They did say that retail holders are the ones selling & being mopped up by institutional buyers whose buying activity is increasing weekly.
Their points were:
Market is nervous about risk with drilling grace alone.
If its comes up trumps then cigars all round. If not then significant risk placed on cash and longer term perception.
They cannot report updated estimate findings from Bilby because the area is quite large while the drilling pipe size (forgive my terminology) was too small to get a realistic view. They are looking at further drill targets to get a better picture.They believe this is a monster but just cant quantity at this stage.
They would also be looking at commercializing Kangaroo in order to generate cash to fund ongoing prospecting.
All in all they are still very very bullish about their resources.