Hi Ian The trendline it is now at on the weekly chart is also a...

Hi Ian

The trendline it is now at on the weekly chart is also a parallel to the line through the highs of Apr04, Oct05 and Nov07. Another parallel line through the lows of May05 has also acted as an important support/resistance line in the past.

There is also a trend channel on the weekly chart going through the lows of Apr06, May07 and Aug07 which we touched again last week.

$0.65 is a previous support/resistance line.

Also, the high in Jul06 was $3.50. Wave1 down went to $2.16 a fall of $1.34. Wave5 started at $1.97 so for Wave1=Wave5 would give us a target of $0.63 which we reached last week.

The quarterly report due to be released mid April should be good, based on the operations update announced 2 weeks ago, and the new well in Louisiana. Now that the drilling has finished in China they should be announcing the decision on wether to proceed in China or not very shortly.