Most stuff was down 3-4% today, so that's the extent of the drop I'd assign to macroeconomic stuff. The other few percent will be Duchess selling off the stock. Temporarily they're exceeding the buying and so forcing down the share price.
Wouldn't have thought it'd take more than 3 or so days going off past experience. I'd have thought most of them have been sold already to be honest. 1 more day of share price weakness at the most IMO before we start the rise again.
Mobilisation for Georgia is imminent and as we learned today the rig crew are being employed on a permenant basis- seems to suggest there's a very high confidence of finding something otherwise the position would initially be temporary.
I'm totally chilled about the current share price as I can be pretty sure by the end of next week this drawdown will be over, people will have realised the sky isn't falling in due to protestors in Saudi Arabia, and we'll be one week closer to starting our continuous drilling campaign. It's worth remembering that we were only 21p at the start of this week, so in total the fall for the week is only 1p, and to be honest we have a fair chance at finishing the week higher tommorow.
RRS Price at posting:
32.0¢ Sentiment: Buy Disclosure: Held
