I will be a bit more ambitious and say mid 60s by mid December....

I will be a bit more ambitious and say mid 60s by mid December. I picked up the first lot at 11.5c and have been buying on weakness when able to ever since. Could not believe my luck at picking up at 46c yesterday.

There are three reasons for mid 60s call.

1/ A couple of the brokers were calling for mid 60s before the high flow rate wells started coming in. I forget the exact details of the calculations, but they seemed to make sense.

2/ The latest well test results were based on natural flow. From memory all the other test flow rates have been after putting the well on pump. I expect about 4 times increase in flow once on pump. This puts it up around the 2000bbld mark. I think this aspect of the test flow was misunderstood, and will be corrected once the on pump flow rates are released.

3/ The oil production of the field is being constrained by transport and refinery offtake bottlenecks. I know from a couple of sources that there is maximum effort going towards resolving these constraints. New tankers were ordered a while ago and it is not to hard to put in a tanker offtake at the refinery if they want the oil.

All in all looking pretty positive if you add up the details. Couple this with the "Can do" attitude from POE and CVN, and good news on the share price should be just around the corner.

Cheers

Jami