Next week will be interesting, no matter what the outcome. In...

Next week will be interesting, no matter what the outcome. In terms of what's required for the sleeping giant to stir it will be anything that looks commercial (obviously...). To my mind that would be anything from 3-5mmfc. We won't know that until we get the flow results, but the gas units reported next week will be extrapolated by many to arrive at their own consultions re commerciality.

The hype from PB1/2 has been largely missing this time around, the current price reflects a market that has more or less factored in a failure. As others have pointed out the SP was far higher at this point in previous drills, so people are clearly being very cautious. In previous drills the SP tended to go DOWN on announcements as the announcements did not match the hype. With a minimum of hype this time around, the reverse will be true (on good news).

The mad trading activity around the previous drills lasted about 6 weeks. The madness will commence again tomorrow on a good announcement, but may be compressed into as little as 5-10 days of trading.

On good news, I think the SP will be all over the place. Traders getting in and out, medium-termers hitting their exit points, and a few long-termers thinning our their holdings. In the middle of that, discussion will return to the prospect of Leadville in PB2. The co has said that they would return to Leadville on confirmation of a commercial PB3. That, and the prospect of PB4+, will then having people thinking about the true value of the enterprise, and will commence a re-rating of the SP adding further to the volitility.

As for the prospect of bad news, you can pick your own number. I hope that won't be a big topic of conversation next week.

Best of luck to holders, especially those LT-ers who have been around since PB1/2 days.

Cheers,

Disco.