time to lighten up, page-15

Interesting that the SP dipped yesterday, on a day when the market overall was very strong.

My analysis is that a lot of people have decided to lock in some profits after the last ann. There is a lot of uncertainty with regard to the market as a whole, with a lot of respected analysts predicting another sharp correction very shortly. Given the flow tests for the next two wells are around two weeks away, it doesn't surprise me to see some strong selling.

I can't wait for an ann next week giving us some more info on exactly what the flow rate is (bearing in mind there was a hint in the ann that it may be significantly higher than 1920 barrels). Also, the last ann didn't have any commentary from Ted (presumably he was off looking desperately for containers to catch all the oil!!), I'm looking forward to some forward-looking info.

IF we get a corrction then you sellers are lucky and will get back in at cheaper prices. If not, then you risk missing the boat as I see a lot of upside.