As they say when crew are dumping not a bad time to BUY. I think...

As they say when crew are dumping not a bad time to BUY. I think we will trade in this 0.6 > 0.8 till head office update progress on Sumatra .......till then happy to Av down on QPN atm :)$$$$

FYI
from the Australian

Oilies tank

IT seemed to be heartbreak time at a couple of small oilies during the week. The news hit on Wednesday that the latest well at the Amazon project in Louisiana had reached the targeted zone but that it turned out to have "extremely low porosity and permeability".

Tango Petroleum (TNP) has a 17.5 per cent stake, and it felt the brunt of market anger: down 59 per cent on the day, down another 14 per cent on Thursday and a further 8.1 per cent to finish the week, at which point its market cap sat at just $3m. It will a long, hard pull out of that hole.

Quest Petroleum (QPN), with its 15 per cent stake in the project, took a 53.3 per cent savaging on Wednesday, another 14.3 per cent whacking on Thursday but managed to bounce by 16.7 per cent as the week ended.

Transerv Energy (TSV) is probably glad it had only 5 per cent of the play, so took only a minor battering. The partners had high hopes when they farmed into the Amazon and another project in Louisiana in May last year when they were targeting between 450 billion and 650 billion cubic feet of gas and 45-65 million barrels of oil.

It looked so much easier in the 1956 movie Giant, when all James Dean had to do was drill one hole and then stand, arms outstretched, as the gusher covered him in black gold.

Happy Days

GB:)$$$