Give it a couple of days and we'll back to 1.00-1.05 range
This is a slow accumulate leading up to ~June/July 2008 at which time the bulk of punters will start getting set for Bazzard, pushing the sp up to ~$1.50+ imo
Then its a gradual process of locking in free carry and taking profits at various stages of the drilling.
Given the upside to STU is ~$5.00/sh if Bazzard delivers, and the small amount of shares on issue, it will fly if there are any oil shows.
I will feel robbed if I dont make 100% on STU in the next 12 months
But for the next few months we will languish ~$1.00/sh with little or no volume
STU Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held