SGY Quick recap of foundamentals: 40-100bcf high impact low risk...

SGY
Quick recap of foundamentals: 40-100bcf high impact low risk appraisal wells,spudding today (1 week drilling to TD, so not a long wait). 2ml cash+producing wells+owning gas plant/pipeline,20ml MC @ 10c. (check PLMs post 8553, link: http://www.hotcopper.com.au/post_threadview.asp?fid=303&tid=1081105&msgno=8559#8559). If you have recently made profits on a O & G play & wanting to see the next gas show pretty soon (within 1 week), SGY could be just for you. Remember this is an appraisal well (not a wildcat), which means the area is proven of hydrocarbon & SGY also has 3D seismic to assist.

Charts: Despite the broad selloff yesterday, SGY rose 0.5c to close at yesterdays high. Genuine buyer interest returned after the morning selloff to 11.5c, which is a very bullish sign. And I especially like the look of the super bullish MACD & slow stochastic crossing, positive divergence yet breaking another MACD diagram high, signalling continued strength. MACD crossed bullishly into positive territory as well, signaling upward momentum to continue