Here are some other findings on the weekly chart:(1) Zooming out...

Here are some other findings on the weekly chart:

(1) Zooming out to Feb 2022 (the date of the big Alemada-1 announcement), and given the rises in the last 3 weeks, the long-term trend line of support (blue line) remains intact. It's promising to see Friday’s close @ 0.077 (a 13-week high) now rising off the support line:



(2) Zooming in to Nov 2022 (the announcement of the two-well appraisal program) - and looking at weekly closes rather than intraweek lows - note the four swings low (blue dotted lines). Each swing low is higher than the previous one.



(3) Zooming in again, note something of a rounding bottom (blue curve) following the August dumps and volatility.



A close above the 50MA (red line) followed by a confirmation candle would give a better sense of confidence. If it's going to take 3 months to reach TD with Alameda-3, perhaps some fresh news on Unit 1B will put it over the line.

Speaking of Unit 1B, I think it’s worth repeating the post of @Wilko16 , who gave all of those great insights from the November AGM, including this one:

“3 more pads approved for 2 wells each, approx 800m stepout and all to drill Unit 1B.”