Very solid support in the past two trading sessions which appears to be genuine (albeit a little tree shaking taking place this morning). The big players have a sixth sense for a pending announcement and are clearly lining up at the starting gates for the REAL DEAL to get underway.
With Steve Noske presenting at the Eastern Oil and Gas Energy week on 26th March you would have to expect an announcement (unless he wants to talk about the decor of the data room – lol) sometime of the week commencing 19 March.
Logic would suggest he doesn't want to educated the market too well before presenting to his peers, so that narrows it down to Wed 21 or Thur 22 March, giving him enough time to verbally support the announcement and then jet out to Nairobi with a smile like a Cheshire cat.
Of course all this is pure speculation on my part and I've seen the lack of news give stocks a turn for the worse on many a similar occasion. However, THIS IS ONE OF THE BEST OIL PLAYS GOING AROUND and I would be extremely surprised if Steve doesn't have some news for us before he leaves.
At .52c WHN is still cheap given the potential upside post announcement but expect SM to be all over this next week. Looks like Mon & Tue will be our last chance to load up.
With any luck, April fools day 2012 will be for those that missed out.
QFY Price at posting:
5.2¢ Sentiment: LT Buy Disclosure: Held
