one of the most undervalued oil play, page-12

posted this bit on DT thread, c how we go today.

Foundamentals: 25% interest of 100ml barrel potential, spudding 1 Feb. 32ml MC with 25ml cash+producing wells. Oil majors Heritage & Tullow drilling nearby. 96% success rate (see Post 7954 by PLM, link: http://www.hotcopper.com.au/post_threadview.asp?fid=303&tid=1065972&msgno=8507#8507).

The area that GBP is drilling C Lake Albert Basin hosts a staggering minimum 6BL(!) barrels of oil potential (see post 4921418 by Solarfeen, link: http://www.hotcopper.com.au/post_threadview.asp?fid=1&tid=1080746&msgno=4921418#4921418).

Techinicals: After the impressive performance yesterday caused by smart money & some traders (including quite a few HC red hearts) taking early positions in anticipation to the huge spudding, the uptrend has resumed with 21c last high taken out in one day! Yesterday appears to be only Day 1 of traders entering, so there could be further rise for another 2 days? Im hoping the almost 3 yr high of 29.5c gets taken out in next 2 days, then its blue sky ahead till a gap at 53c. (The Dow hammering doesnt help, but it could be a perfect chance to buy more at dip or enter). Slow Stochastic & MACD both made very bullish crossing yesterday, positive divergence just started appearing on MACD diagram. So bullish signs are there.