For people who know these O+G plays this msg was clear that they have a good find in the current testing zone and are looking to stabilise and annouce the results later in the week.
They can't and don't annouce flow rates until stabilised but by not annoucing the rate they have to advis the reason. Which is that at this stage the are still stablising it.
Once again you don't do that if the rates have dropped down to a non commercial level. twhen you are only testing 10 feet of a potential 300 feet find.
he oey leaving this morning was from thre types of people;
1) Don't understand and got nervous.
2) Hoped to push price down to buy back in cheaper. Including dowmramping traders who always turn up on the site if they think they can spook peopl eto puch price down to get in cheap and make a quick few buks.
3) T3 traders who had held on but canlt wait a few more days
We already saw most of the hot money move out last week to other O+G stocks. I believe we will see that money start to return to VIL later today and incoming days as people take profits and realise where VIL are at.
I certainly bought more this morning.
VIL Price at posting:
4.5¢ Sentiment: Buy Disclosure: Held
