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Exmouth79, your reasoning is very sound IMHO but who really knows what the market will do......the market is an unruly and contary beast. After the dramatic market falls of mid last year the XJO has been pinned down under 4300 but yesterday make a clear break up. I believe that this will prove to be very significant for our market generally speaking..... however in the very short term (ie today) things might not be so bright given the poor performance of overseas markets and commodities in the last 24 hours.

But generally speaking if our market starts a postive trend up from here, and with a little bit of enthusiasm for shale ventures given the recent success of BRU, and given EXE already has shown some promise and is about to start the 2012 drilling shortly then maybe we could see a bit of market euphoria coming in ahead of results.

If the estimates that the company has given us so far are anything like accurate then I see potential for EXE to do a BRU and a buy at 10, 12 or 15c may look in hindsight to be neither here nor there....fingers crossed.