Market doesn't seem to like the announcement. Up 40% initially and now fallen to only a 20% gain. Given the extremely depressed stock price this gain is negligble. Also, DR has not advised which component of the acreage they have given up. Is it the best part of the acreage and hence why the reluctance to release more information? I don't see the market driving the price up substantially unless/until it sees some positive data from the 3D surveys, and therefore drilling is confirmed. Hopefully some futher announcements will be forthcoming in relation to the La Bella 3D.
I suspect this is going to be a long grind...
Market doesn't seem to like the announcement. Up 40% initially...
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