RE: Over reaction?26 Jun 2024 10:30
After great deal of thought and a re-read of the RNS. The conservative and cautious approach must be warranted. The company must have some details of the previous pressures and results of part of last abortive testing. The initial share reaction is disappointing.The market regularly reacts and punishes. Conversely, it can over react and reward handsomely. That is part of the investing in oil shares.
The insurers, the banks and the state authorities must believe there is something to gain, The university funding for the processing of the results. Is also an indicator.
The delay on the Salt Wash is short but necessary.
The refunding at lower rates is encouraging. No mention though of the new wells due on line in the first quarter.