I'm interested in why you believe the floor was at 74c. I've...

I'm interested in why you believe the floor was at 74c. I've reviewed the charts and trends and really don't see a floor above mid 50s. Fundamentally the price floor is determined by real de-risked return and at present oil price and production levels I work that to be about 56c.

I want to be wrong as I think it is unlikely that the price will fall to that level before a series of announcements in the next 4 to 6 weeks and I want to get back in as there is plenty of upside. The issue is if the announcements are bad (not likely but possible) the down side would be 56c IMHO some 20c decline. This stock represented a large percentage of my portfolio as I was holding 300,000 shares at an average buy price of 30c. The impact of getting it wrong by 20c is quite large and that is why I sold yesterday.

Let me know if you have a basis for your belief in the 74c floor as I'm interested in a re entry point.