I have followed up with the company, and all is as per their previous guidance. There is enough money to get through this drilling program and the rig is being mobilised in the next day or so, with drilling on track for mid may (next week). So while there are things that could happen between now and then, I will take that on face value. I think that 4.5m trade was pre arranged, as I have been watching TNP since late last year, and haven't seen a single trade that large in that time. May have happened, just haven't seen it myself. The trading was certainly a bit odd, but that doesn't really matter, as long as that drill goes into the ground next week and they get decent flow rates. I'm a pretty small investor in the scheme of things and certainly don't have any inside tips, have just contacted the company on a few occasions, and make my decisions based on that. That being said I remember speaking to Michael Kiernan re TTY while that was still going and questioning him about his most recent director purchase and him saying "mate I wouldn't be buying this if I thought the stock was going south now would I?" Sure enough it sank from 75c down to the teens, so you never know and speaking to the company rarely gets you any further info, maybe just enough to make you comfortable/complacent.
TNP Price at posting:
2.6¢ Sentiment: ST Buy Disclosure: Held
