28c/29c Looks like a few punters are lining up prior to the Oct drill for the EFS.
This new interest seems to have finally knocked the SP up out of the 20-25c trading range that its been kicking around in since early april
Be interesting to see if the share price holds once the SPP allocations become tradable. Its possible that with the current 47% premium over the 19c placement combined with the amount of stock being allocated (retail spp = 31m shares) that we could see the share price slide back into that 20-25c trading range as some traders lock in short term profits.
Can't say I'd really blame them but personally my money is on the geo tech boys dropping that deep drill in to a nice reserve of gas & oil in the eagleford shale. So with the liquidity being relatively tight.... I'm not going to risk a short term trade.
TXN Price at posting:
28.5¢ Sentiment: Hold Disclosure: Held
