It's funny. I've been very negative about PYM for the last few weeks because it has been obvious that this well is another failure. What's really strange is to see people jumping out now, clearly at the bottom, after the obvious has been spelled out in an announcement. I do think this is most likely the bottom and thus the worst time to sell. I doubt a recovery is going to be quick, it will probably come in the lead up to the next well, and unless the next well is a success I don't think we're going to see 12-14c again, but we might, and on anticipation and speculation alone we'll see more than 3-5c, probably closer to 10c. If I had funds available I'd be topping up now, even if just so I could sell out around or just a bit after the next spud. I feel very silly for not selling out on the way down between the first announcement of this well's results and now, but to me, now looks like a clearly bad time to sell.
I could be wrong, it wouldn't be the first time.
PYM Price at posting:
2.4¢ Sentiment: LT Buy Disclosure: Held
