Subject muness - date to reach target depth Posted 13/12/05...

Subject muness - date to reach target depth
Posted 13/12/05 17:09 - 55 reads
Posted by dynofish
Post #828717 - start of thread - splitview

The Muness well spudded on 30 November and is due to reach target depth on around the 22nd day. That is what I have been told by the CEO. So early to mid next week.

Buyers and sellers have been very careful in relation to not moving the price too much. I have noticed sellers stacking the sell side only as much as is possible without pushing down the price, while there has also been consistent buying (including by EXR directors) which has been carefully orchestrated not to push the price too much higher. All trading done in a fairly narrow range. This stock is still not on the radar for most investors.

I think the price still looks tremendous value in a risk/reward sense with even failure of the muness well not expected to lead to a big sell down due to upcoming Jaguar. If it is successful, there is prospect of a significant rerating to above $1.00 IMHO.

regards
DF