one step forward, one step back

So much for that trip to europe...lucky I enjoy camping.

Nice post iam but in the (hopefully temporary) absence of the other technical gurus who are understandably licking their wounds I found comfort in an article I found at OilVoice (apologies if this has already been referenced - due to the number/quality of posts today I was very selective).

Aside from today's announcement technical details the key insights/analyses were:

GURAME - Positive
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- Indicated presence of gas and high permeability
- A number of the prerequisites for a commercial reservoir are present

HERON SOUTH 1 - Mixed Bag
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- Presence of movable gas
- Indicated low secondary permeability and restricted recoverability
- Gas flow in Elang-Plover horizon was very low and not commercial
- Heron being a single structure has been questioned, however there has been no impact to the prospectivity of the Frigate horizon (which will be tested next)
- Commercial chance of success now lowered to 30%

SHARE PRICE - Excessive
-----------------------
- Over-reaction being down 35%
- Complete failure at Heron only removes A$0.12 from their previous valuation
- Current valuation (adjusted based on today's announcements) is A$0.55


The full article can be found at:

http://www.oilvoice.com/n/FoxDavies_Daily_Monitor_Amerisur_Resources_KEA_Petroleum_and_Leyshon_Resources/b961fe92fb3a.aspx


Not too familiar with FoxDavies but it was nice to get some level headed advice from an analyst.

So I still think Europe is a chance, otherwise happy to turn my camping into glamping.