re: vermilion for yogi Hi Yogi,Sorry about yesterday. Feel a...

re: vermilion for yogi Hi Yogi,

Sorry about yesterday. Feel a complete d/head. Thought we were going to have a great afternoon move which would get me off the hook.

No more buying on three days credit!!!

I am not sure what the answer is to the liquidity issue.

You recall that when the WC wells first came on stream PSA had a record turnover of 2 million on the day of the announcement and 2.5 million the next day. But then settled back to the usual low turnover pattern

And more recently when WC #14 was being drilled 1.6 million shares trade on an upday (Friday) in anticipation of a success and 1.6 million trade on the subsequent Monday down day when the well was a duster. Those very few shares sent the stock from 95 cents to 65 cents!!

But WC #14 was a tiny target, 4 to 5 bcf as I recall, and yet it had such an influence on the share price. Makes you wonder what a success at Vermillion will do!!

I think the answer to the liquidity issue lies at the company's door, in the sense that unlike AWE or AYO it has not done any self promotion.

So if you are in the stock you have got to have done some homework or believed jocam9(!!!). With Petsec's history you can understand why they have kept relatively quiet about the turn around.

These guys are not going to open the champagne until Vermilon is in the bag and this years profit hits the all time record and they can hold their heads high when they walk in to the brokers office

Then we will see some more interest in Petsec at which time it will be trading at a much more realistic P/E and there will be better liquidity. So for the believers, looks like we are going to have to cross our fingers and hold our breath and sit tight though Vermilion.

And just on that I (and the Hotcopper clientele)would be interested in your thoughts on likely outcome given that they are drillling back into an all ready discovered and quantified sand??? (Thanks for your comments on caissons by the way).

Looks to me very much like a rerun of the PSA drillingof the early 90's in th e GOM where they had 19 hits out of 19, consecutively, surely some sort of record. Gives me confidence that they know the importance of these current wells to the company's future.

And then there is China .....

Cheers, John C