ZAMA PMO TALOS16 Apr 2019 07:11
At 11 pm last night, after both the UK and US markets closed for the day, Talos Energy released the news update that tests on Zama went well and the whol article looks very, very positive for both Talos and of course, much more importantly, PMO.
So why did the Talos price drop 2.56% on the day and actually 8% intraday? (it was trading at 29.28 in the morning and ended up at 27.8). Because the news update was released after trading hours. Or at least, I hope, since it is quite unusual to release such important news at 11 pm? Normally these news or trading updates are announced early morning, before markets open, but then maybe, because PMO is involved, that woul;d have meant early morning for the US, but bang in the middle of our trading day? Who knows, anyway, we will soon find out. In a couple of hours, hopefully, we will see a huge rise in PMO. Or maybe a good rise. Let's see. Brent is steady and our sp has fared poorly all yesterday and the week before, so hopefully this is the day when we resume the upward trend. Otherwise I would have no idea why, on such a great update, our sp would not go up.