Mr T, I had to look up chasm as it is beyond my vocabulary!...sounded almost sexual in a way...deep abyss would appear to be the meaning of your reference....!
maybe someone got an update at the AGM.....at a guess....let's have a stab....still progressing with due diligence in australia and 3d seismic needs to be ratified for Morrocco. 3d takes time, usually a few months.
so in a nutshell, the data was gathered in january, it then has to be entered into a complex computer program that basically charts an imagery of the gathered data, lets say thats another month, so we are at February. This data then goes to the company TPT and their hired experts, for interpretation and evaluation against previous 2d and other data...then this goes to potential farm-in partner(S) when everyone is happy to sign off on it, , then they need to run their ruler over it with their experts, find the best location to drill....easy 2 months there i reckon, probaly 3 in all honesty.. plus then it gets down to farm-in....negotiations and details...lawyers get involved- oh shit - more delays //don't u love lawyers....So my calculations we will be lucky to see anything for morrocco this side of May.
Australia is the big unknown, could happen anytime as 3d is already there, Shore capital basically say this is closer, how close you will not find out until the deal has been signed, sealed and delivered. In my view crazy to say anything until it gets to this stage. Worst possible scanario for all of us is premature ejaculation....because everyone hates it and share price is punished!
Resource updates, I guess will come, but at a guess it makes more value accretive to get farm-in happening than worrying too much about how many more megatructures we can find. No point throwing more money at consultants before you can get farm-ins. Farm-ins move price.
Anyone concerned can always ring the office, I am sure they will give you an update, most companies will do this...but if they had something to tell everybody they would.
Believe me, if you follow the share price technicals, this will be an early indication. At the moment it is in a holding pattern which suggests no new news. We are ping- ponging between support and resistance on a technical level. Great time if u are an accumulator, sucks if your a holder.
Share price is psychic, and tends to predict events as they unfold. Its one step ahead of of the masses. Human psychic just cannot keep secrets.
Fundamentally, this share at current levels is severely undervalued for the assets held on a world stage. S&P capital IQ are no dummies, why are they not following Chariot oil and gas (as I already posted on this site as a peer comparison - $500m market cap) and others...with similar assets....why follow a piddly asx listed junior of $50m?
Why has a US institution bought in on an AIM listing...
I could go on and on and on.....and on....the signs are there..connect the dots..and success will follow... but it won't happen overnight.
By the time news is announced the share will have already broken into a short term up trend or down trend.
TPT Price at posting:
51.5¢ Sentiment: Buy Disclosure: Held
