It certainly has the potential to move quickly and to be honest it has moved very quickly on news in the past. The mix of potential good news is pretty strong - french licence renewal, drilling exploration well, piggy-backing dunquin activity, but we have been v patient for a long long time. Patience ran out for most when the price fell the other week, but that was overdone by the MM's and it recovered - now they, like us, are waiting for the good news to come. I got out of Borders and Chariot to top up here - much better near term potential imho
I still believe the Shale Gas story will unfold positively in the UK and the value of EOG's Humber Basin licenses will increase as we go whether they choose to exploit them or not. Once Shale takes off, the major energy players will be more and more interested in those licenses imo. Just a view. DYOR. GL.
A 10p base camp only gets us back to where we were before last week's falls. I think the MMs forced this down so they could buy cheap shares. The company's shares will continue to see interest in the next couple of months, if nothing else from the Exxon well in the Irish Atlantic Margin. Of course anyone who bought a the recent low (like the MMs) are already sitting on a decent profit. I think it will get back to 10p fairly easily as anyone who has taken profits has to buy back in now at a higher price
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