our re-rating and short delay on rig

Well well well. Have we finally arrived as a stock worth holding I wonder? A good little litmus test will be the SP action this week. It seems that Gary's spud will be delayed into June, as tradesido and matchbox20 had indicated over the weekend.

I wonder where the SP will fall too. If indeed at all? It was not that long ago that a rumour of a delay would smash our SP way down. Just a couple of weeks ago, back in the pre 3,000 boepd days, news like this would have had us fall to somewhere in the 2s from where we are now. All in a flash. Obviously people felt SSN was too risky to hold an extra few days. The manipulators had complete control with DTs tagging along for the wild ride.

Once this rig delay becomes common knowledge, what will SSN holders do I wonder? I do believe that some will exit or lighten their loads, but I do believe that many holders will take up the slack and view it as a chance to top up. I for one am planning on selling some of my others to top up should it fall a couple of ticks more. I for one don't expect much of a fall through the next week or two. I have been wrong before, but I do feel SSN is well and truly going through a serious re-rating now. The next fortnight with a small spudding delay should show us how far into the rerating we are. All IMHO.

GL all