the elliot chart, page-2

So you're supposing a large fall down to 72-75c in the next 6 weeks?

In this time we should have:
1) Flow rates from Paralana
2) Flow rates from Egypt
3) Drill results from Baur well on the Western Flank
4) Countdown beginning to drill Encounter-1

Beach is a much different beast to September last year. The fact we're holding above $1 while the market is looking like testing 2008 lows speaks volumes IMO. Rerating is still happening, just look at the volumes of buyers at each line. While there's still insto support we'll continue to be supported above $1.

I think we'll be testing $1.20 again in the not too distant future. Let's say around the time Encounter-1 is being drilled. That means there's a good possibility of a quick 15% in 2-3 months to be made on this stock, with limited downside given the production profile, gas sales contracts in place, no debt and a Macquarie credit facility if they see a bargain or want to start developing their assets further.