TSX...21 Jan 2010 18:27
1.8 mil traded now with some sells softening the price. Looking good for am trade UK tomorrow, we are on the big list [gainers], there is not much stock around and the radar is beeping, may get some more folk coming in on the prospect of Syria coming in. The original well prognosis on Syria was around 450BCF of gas. That is not earth shaking though by any standards a good find. There is significant upside here though, if Al Tayr comes in, it de-risks 5-6 other structures to above 1 TCF, that starts to get world class. If it turns up oil rather than gas, it could be huge but that is an outside chance, the area is [thought] gas prone. With the italian sale coming in and 1000BBl/d coming out of W. Don for the next couple of years, with aditional upside here if Petrofac pull their fingers out, the unknown Bowmore potential, Crawford moving on 2010, there is a lot here to show promise for a long-term. For the profiteers, Stratic was at ~24p when Bowmore was exciting, from this base at say circa 14p there is still a lot of upside potential on a cheap-ish buy-in.
Best of Luck to all here, DYOR/IMHO - geo