Dear jittery one, nothing in life goes upward to the right in perpetuity except taxes!LOL Short term profit taking is fairly standard practice by traders. I am an investor and the fundamentals have not changed overnight. As to the risk, there is always risk in exploration-but read company's announcement dated 20th Sept,page 2,along the lines this is a much lower risk than is usual as it is on a demonstrable hydrocarbon migration pathway...(they also shot 3D seismic-more expensive but also reduces risk). Expect some comment tomorrow about restarting the rig, maybe something on Friday about the Mckinlay, then the big stuff on Tuesday about the Birkhead. Anything from the Hutton or Patchawarra below the Birkhead is a bonus. What they will announce if the hole is a success, will blow away VPE?BPT?OEX etc etc etc. It is the biggest play in the Cooper risk/size wise in the last five years-much bigger than Worrior, Flax,Christies etc. Then again I am biased. Cheers,TAS
STU Price at posting:
0.0¢ Sentiment: None Disclosure: Held
