veeone how can you say that the pb3 doesnt have the hype that pb2 did at this point? cant you notice that the shareprice was lower and in a downtreand back then? (at the same stage of drill operations) seriously guys its i dont understand how this assumption can be made, its not that hard to see for yourself. There was also no hype on spud, i dont know where all this is coming from. Ive traded both Pb1 and Pb2 and so far things are going as expected.
I also wouldnt worry about the options at this point, the volume is negligible in both the heads and options. Once you start getting some good news beleive me the market depth will change and the linewipers will be in action. How many of you guys were around pb2? if you have then you know how quickly things will change, newcomers here will see this happen soon once things get closer. Like i said before there is NO REASON for traders to come on board yet. When you start seeing 5m+ volume days then you can start analysing the daily moves, there is no point now. The volume also is way to small to suggest someone is selling due to driling problems or some other problem. Cunninghams might have a load of options to unload but they dont have ordinary shares, so the ball is in our court as arbitrage traders will always be willing to pickup cheap in the money options (if we get there) remember 12c only gives us a market cap of $50m, that should be no problem if we get a sniff of good news, remember the payzone "should" be larger this time around as we are hitting it from an angle.
As for the resource size, that is NOT important right now. The well has to flow commercial rates first!! then we can worry about increasing the size of the resource. Remember this is unexplored land, there is much upside if this gas discovery is all its cracked up to be.
Just be patient guys and wait till we get closer to ismay.
GDN Price at posting:
10.8¢ Sentiment: Buy Disclosure: Held
