SP looked very shaky early on AIM, down about 10% at one stage, still down 7% as we speak. Still only 10% off our highs.
Understandable that some money perhaps being taken off the table so close to an ann. If it fell 20% or so before the next ann
{due hopefully next week sometime} then I would probably sell my remaining heads as well. Price tells me at that magnitude
something is not right, particularly in lieu of the last ann which couldn't have been more promising.
I am expecting at least an update on the light oil recovered at the end of clean up and PRIOR to production
testing. Lack of an update here would make me a tad skittish, considering they gave us 7 day flow rates. Like
to see those 21 day rates thanks management.
So, perhaps a significant ann coming next week which could significantly de-risk production testing.
Nervous nellies and profit takers taking insurance and selling. Fair enough. I will hold till the ann comes
out and decide from there, providing the SP does not "collapse" over the next 3-5 trading days. The ann
of 21/7 was good enough for me to hang around.
GLTAH
OEX Price at posting:
19.0¢ Sentiment: Hold Disclosure: Held