May Chart, page-2213

“every oil exploration play i have ever seen” approaching options expiry comes under extremely strong headwinds….this is not a phenomenon specific to MAY, yet I’m always surprised at investors disbelief in the weak sp of a company with options close to expiry, it literally always plays out exactly like we are seeing. This is one reason that options are a bit of a pet hate of mine and why I very very rarely invest via options. As we get closer to expiry date this pressure will get stronger….but the great thing is it’s almost over, less than 2 weeks. Once Sept 10th is in the rear view mirror we should see a nice bounce back….regardless of Zapato outcome, what we have already uncovered at A-1 is worth at least a few multiples of the current sp but will take some time and patience to extract that value.