In contrast to what Arrow were saying it seems speculation may have been for a pretty big rights issue.
BG discussed there Gladstone economics in their recent report, presentation etc (worth a read), definitely was in the high 20's/bbl.
As for charts, well all but those holding them as a religion will recognise there are many, many things a chart can't know. In essence a chart is reading past investor/trader behaviour. Before deciding how much to rely on a chart for a stock it might first be worth asking what can drive that stock before sentiment has a chance to get it's footprint on a chart. In csg we've seen heaps of surprise events. In oilers you get the RLD results (and reserve downgrades, eg ROC) which must make these equally risky to read by chart, except that with oilers you know it is only the few days of a drill in which the charts are blind.
EL
AOE Price at posting:
$5.03 Sentiment: LT Buy Disclosure: Held
