the "waiting game", page-3

I would be surprised if it hits low 40's, my previous post gives technical reasons as to why, but anything could happen of course and any delays could make that happen.

This made a 50% retracement from the top as is quite normal for these stocks on their way to development.

I personally enjoy this market period, brings out sellers giving me the opportunity to either get in or add to positions, getting another low risk entry point.

This consolidation at this level could go on for some time, so frustrating yes, but unavoidable as can be evidenced by almost any share at certain levels.

Management gives direction not certainties, as some of the delays are beyond their control. No different to any other company on ASX. look at KAR and Cove Energy PLC, they all suffer that 50%ish retracement before moving away again at different levels.

Price can only go so far in so much time unless there is an abnomily such as a takeover offer. Time is as important as price in movement - quote WD Gann. So this retracement is all about rebalancing time with price. Once rebalance occurs we may wait at that level for some period before moving away again.

Management unable to sell their shares for one year after AIM listing, so believe me they know what they are doing, and they have some large holdings. This isn't about today or tomorrow, its about later this year, next year and the year after....that's where the real gains would be made.

Over a year ago I posted that my gut feel was that this company would be a takeover target in the longer term and believe me it is going to be a lot higher than this level and beyond Cove Energy 250p offer if it happens. Location and high percentage of interest in the assets is very very attractive. All majors are trying to secure big assets or get a slice of the action. AIM listing is all about marketing, getting the company known and getting it on the radar.

1TCF of gas equates to approx $1b dollars, which we could have multiples of, then the oil, which I believe will be in the billion barrels, equates to too many zero's for my mind to comprehend, so I will let someone else do the sums, but it is way beyond $1b...mark.

All potential yes, all to be proved yes...

I am impatient as well, so I am trying to justify this to myself as well as others......