yep the short term traders have no stomach for hiccups on a long term operation. the rest of us have to such it in and focus on the next well. We will also be keen on finding out the commercial dollars attached to what we have found.
i have seen statistics on oil exploration success rates.
1/80 chance of a wild cat well coming in. 1/8 a development well.
lets get a grip. We drilled one and hit gas under high pressure and great permeability. ( we will have to see what they can do about the seam with low permeability.
My guess is once the traders have finished taking a hair cut, there will be a decent bounce.
I would expect further comment from Paul soon as they know what they want to do with what they have found.
Flux
TNP Price at posting:
1.2¢ Sentiment: ST Buy Disclosure: Held
