Ann: Lawford 1 in Canning hydrocarbon play to be , page-13

re: Ann: GRK: Lawford 1 in Canning hydrocarbo... I would have just pointed out BRU (and every other small cap on the ASX really) had basically the same drop off due to the same obvious external market issues. BRU was down his 25% figure during the scare.

Nothing internally is really going to move NSE appreciably for a week or two. If anything it might trend down a cent or two leading to TD without any exciting newsflow. Bit of a funny one really. Basically, as long as the Laurel formation is present the company will call it a "success" now the expectations of the well have been lowered to "unconventional" status. What would normally cause selling on a duster might even give the sp a bit of a push, heh. Hard to know how to act accordingly. I'm only really starting to accumulate NSE now Conoco is on board so I'd normally buy another chunk now to protect against conventional success and a larger chunk after the higher probability of a duster in two weeks. But people aren't as excited about the 500bcf (or highly unlikely 400mmbbl oil) they're probably here for the Goldwyer unconventional story and will be jazzed about the Laurel even though we all know there will be shows there and profits on those are much further away. Funny times.

I bought BRU at 26c just over a year ago (actually after trading it from 18c much earlier) so along with other buys have been happy to be out of NSE until it was flying by more than the seat of it's pants. I caught some the other day during the little kerfuffle at 29c and will probably add some more around 32c. It's a long term story. Providing they don't hit 500bcf there isn't much of a rush just yet ;)
It's a bit silly to worry about a few cents here and there on such a LT prospect, just accumulate on weakness..