Next week is definitely not on imo - this stuff takes time (and if TNP's history is anything to go by, it will take a bit of extra time). Shame announcement was a bit vague - if you decide to take the step and tell people you go drilling you may as well give an estimate as to timing. They probably did not give an estimate as to timing so nobody can have another crack at them if they miss the target date again; but it makes the announcement pretty soft (hence the rather underwhelming market reaction). Most of us only want to know two things: when do you start spudding and how long until you get to TD. Those are the key triggers for sp movement, the rest is just fluff. Anyway, I have been hanging in there for a couple of years now (with some other commentators above) and not much reason to throw in the towel now.
The market clearly treats these type of announcements with a good dose of "sure, heard that before" scepticism.
TNP Price at posting:
0.7¢ Sentiment: None Disclosure: Held
