Hi SF, u misunderstood me, 29.5c is only my initial target (given today's only Day1 of traders entering, we may even see 29.5c taken in next 2 days if volumes continue). Considering we still have 2-3 weeks left till spudding & given the huge interest appearing today (traders appear to be scrammbling to get in towards end of the day - bullish) & many little red hearts taking positions today as well, all bullish signs for next 2-3 weeks. If our pre-spudding rally starts this early & we'r guaranteed not to see the CR stuff up VIL made during their pre-spudding, im sure SP is very likely to double from current level to 37c-43c? That's why i mentioned gap at 53c, as i think once 29.5c gets taken out (hopefully in next 2 days), SP pre-spudding will be well beyond 29.5c, & final target pre-spudding could be in the middle of 29.5 & 53 (which is about 42/43?). At 43c, the EV will be about 50ml, not too stretched given the 100mmbbls potential & 6bl reserve in a very high drilling success rate area crammed by oil majors?
Also, if we look at charts, beyond 29.5 is blue sky. So the speed of rise could be acclerating after we crack 29.5c?
There appears to be some very big buy orders going through in last couple of days & especially today - highly likely smart money & big players? If they push GBP, it'l pop very easily. Im fairly confident to be free carried before spudding, my avg is about 19c after avging up today
GBP Price at posting:
21.5¢ Sentiment: Buy Disclosure: Held