Your welcome Pulse.. After talking to him for 20min on mobile rates I think it was worth it. Admittedly, I was shocked to see the share price surge to high of 0.43c with almost 34m of volume on news of just 'shows'.
I think a 'snowball' effect had started and many were caught up in the action, hence why I never bought that day. I was expecting it to decline but over a few days unlike anything today.
Personally, I believe the share price would have fallen regardless of the announcements today. The MD blamed the media for causing so much hype to begin with in regards to Nulla Nulla-1 and said, anyone with any knowledge of oilers would have known the announcement of NN-1 today was not conclusive and only an initial observation from drill cuts.
He said, he didn't want to give away too much in the announcements with respect to details to avoid media exaggeration. (I don't know if I would agree with this).
When I asked him about Yellowbank Creek-4 he didn't seem as enthusiastic as he did towards Nulla Nulla-1. I said, Yellowbank Creek-2 proved worthy and 400m from Yellowbank-4 might show commercial results. He said, He felt a bit uncertain with Yellowbank-4 as it is still too early to tell.
And appeared to be resting some high expectations with Nulla Nulla-1 as he termed 'not quite the elephant but close to it !!'..At this point the MD has hard on for both the Nulla Nulla-1 and Yellowbank creek-4 but I think more so the NN-1.
And finally with a bit of a hint, he mentioned OEX, he freaked out how much their share price had risen on such low results and if that was any indication - they expect their share price to follow suit when they start pulling numbers for NN-1.
He has high expectations and I hope it doesn't disappoint, many buyers today may have been buying with such expectations also. It's first time I ever saw a buyer with 1,000,000 get in at 0.345c on EPE, I don't think this buyer is planning on making a loss considering the share price closed @ 0.30c.
There is more here than meets the eye....
Good Luck to All.
Cheers, Ace.
EPE Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
