I agree but we do know the reserves upgrade is very near. It should be out before Thursday next week if they meet the timelines that they announced to market.
"Senergy independently estimated 2P reserves of 8.6 mmbbls in 2010
New Senergy reserves report to be released Q1 2011 based on results of recent J-52 exploration well"
From the flow rates announcement released on the 16th March 2011 see below.
"J-52 well is producing at a flow rate of 750 bopd from the mid-Triassic reservoir."
I really can't see how this reserves upgrade will be negative. I'm hoping for positive news next week and I think there has been a steady accumulation leading up to this announcement.
JPR Price at posting:
87.0¢ Sentiment: Hold Disclosure: Held
