Well, the news could have been a lot better... but it could also have been delivered a lot worse. It will be interesting to see how badly the SP suffers... I don't think it will be as bad as MEO a couple of weeks ago where they just came straight out and said "no hydrocarbons found".... but I guess time will tell...
Also pleased to be in BUY with their other production wells running and interests here and overseas.... (no disrespect to our MMR colleagues intended).
I'm guessing this will go the same way as most bad news with an initial oversell... but I guess there is always an opportunity on the upside and the downside. $ to be made if you can pick the bottom.
BUY Price at posting:
9.0¢ Sentiment: Hold Disclosure: Held
