James,I think the SP reflects those nervous nellies who wanted a...

James,

I think the SP reflects those nervous nellies who wanted a quick buck hoping for something material being released to the market prior to our Thursday debrief. This, having not occurred, has brought the element of doubt in to those people and they have sold off accordingly, and hopefully moved on to something else.
If the well is not commercial but still flows gas, expect a selloff (wont call a price)from the initial shock then see it rise back to where you and I bought as the smart investor realises that this is a vertical well and there is a flare so damn there is gas down there and this is only stage 1 of 5 stages. The smart investor will jump on and await the next stages, as this is the game changer, in my opinion, and if there is gas in the HCSS regardless of the fact it is not commercial, then hey there is most likely going to be gas in the Irwin river stage.
Remember, they do not frac the entire length of the zone but only the parts that there initial core testing showed as having the greatest likelihood of producing gas. We all remember the pictures of the cores wrapped in plastic and the gas bubbles under that plastic. That wasnt an air bubble and if you put a flame to it, it would burn with a pop.
So to sum it all up:

It will go down or up. (Nature of market)

There is gas down there, how much we dont know. (There is a flare you can read by at night)

This is a test well, never intended to be commercial, was just a nice to have if the HCSS flowed. Would pay for further drills without the need for a "Possible" future capital raising.

There are 5 fraccing stages, and the remaining 4 are the ducks guts so to speak.

So after all that I have come to the conclusion that I am of no help at all and will let tomorrows announcement speak for itself.
Just ask yrself are you in it for stage 1-5 of a vertical well or some horizontal fraccing at a later date.

Kind Regards,