Don't disagree, as mentioned, I tipped it last Thursday. Also...

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26/05/16

18:46

Post #: 17877357
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Originally posted by Autosime ↑

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I think I sit between your view and those who are excited. As you know I was one of the early vocal critics of this company and they have destroyed alot of wealth, but the price today is post that destruction and the company is recapitalised and should be viewed as a junior explorer. In the oil game as you know one good well can change the fortunes of a company , as Bauer did for DLS , as callawonga did for cooper energy. So although it is early days , it is possible they have found a very nice pool of oil that may generate cashflow and make them self sustaining for years to come.
It does seem like its a decent find and at this market cap and SP is a very decent bet. A 1.5-1.8c SP would be a Sinch on confirmation of good flow rates. Not yet locked in but there is enough on the announcement for a fair bit of positivity

On a TA note the huge volume and close at its high suggest a very high probability of another decent day tomorrow 1.2-1.4 is my guess

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Don't disagree, as mentioned, I tipped it last Thursday.

Also said earlier that tomorrow morning surge likely, with a Friday arvo pullback/sell, before all the volume came.

so, I mostly agree with you except one thing, they are not recapitalised, debt gone, but so is most of the cash.
It's just not a LT investment for me.

AKK Price at posting: 1.0¢ Sentiment: Buy Disclosure: Not Held
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Don't disagree, as mentioned, I tipped it last Thursday. Also...

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