Short Term Trading Week Starting: 23 May, page-2

LWP made a market update last Wednesday, probably due to the $360K buy on Tuesday, and the resulting two pip rise and ASX price query that would surely follow. However, their response denied any cause for the spike, but did state the following, "LWP can report that the Company is engaged in discussions with several potential joint venture partners."

Many sellers have exited over recent months in this Long Winded Pantomime, resulting in a fairly thin sell side to .01 relative to the very large register and what was available previously, and dare I say likewise to .02. It is not unfathomable that if the mystery large buyer was no accident, then we may have a smoking gun.

One to watch if your motto is to trade the trade, otherwise stay well clear. On the other hand, higher oil prices should be beneficial even though it has been argued that LWP's technology is a must for alternative oil even with low oil prices, as it reduces drill costs significantly. If the 'forthcoming' long awaited JV is any good, it will become a DT golden goose, but shouldn't be looked over for a ST investment.

Disclosure: sold out long ago at a significant loss but will try to make it up when opportunity arises.
PS: I wasn't the mystery buyer.