All,Interesting trading today post announcement, potentially...

All,

Interesting trading today post announcement, potentially flushing out day traders and shaking everyone's confidence that the team on the ground have been underwhelmed by the current flow-rates.

Close to the end of trade we saw someone wanting to take up a position which pushed the price back to 0.29 then for someone to sell during the close out at 0.27.

Has today's announcement changed the sentiment regarding the likelihood of Malolos 1? Given the lack of big volume on face value no; however this share has been trading in the 0.26-0.30 range the past few weeks and it would be beneficial for all for some additional information from Dennis and his team on why the additional extension for the rights issue etc?

My theory / without any substance or fact is that have underwhelmed to-date by the commerciality of the flow rates achieved ie <100 bopd and the next announcement will be;

#Mgt has decided to change out the current swabbing unit ie (some mech failure / technical incompatibility) to assist with fast tracking the process of proving up this resource and / or;
##Mgt have paused the current swabbing operations and are investigating other avenues / methods - acid wash etc to free up the oil bearing stand stones (etc) >> I did read in a previous announcement that this structure is under-pressured (which can be a positive indicator for commercial oil plays) and;
##The additional extension will allow for demob / and remob of new equipment to undertake the extended testing > with a view that production will increase as pressure is reduced / reservoirs continue to fracture and open up etc.

Note - DYOR / I'm no technical expert just throwing it out there on a hunch!

Welcome your thoughts.

HW