Good points WB. Very unusual price action today but not entirely...

Good points WB. Very unusual price action today but not entirely unexpected given retail investors think they can sell at current levels and replace 100% of what they sold at 32c. I think these guys will be very disappointed and potentially caught on the short side when the dust settles in the next day or two. I am hearing from within the corridors E.L. & C. Baillieu Stockbroking (managers of the SPP) that investors who subscribe for the whole $15k may be lucky to get $3k. Not the best result for today's sellers but a positive indication of what the oversubscriptions will be like. I expect the price to drift back to the high 40's over the next few days just under normal conditions. Dont forget some of the cap raising money has been earmarked for new acreage so any news on that would be viewed as extremely positive.