How do you know they are still operating the rig, if anything it could be heavy oil like the last 2 wells I don't know only they know who are there, maybe they don't want anymore bad news out yet spoil everyone's Christmas.
According to that then it doesn't look like we are going to get an update before Christmas, the more I look at this my gut feeling is that Carapa is going to be a duster, and I am thinking I am throwing good money after bad with TLW.
2 Broker cuts today, UBS cuts TLW to 60 from 220 neutral, and Jefferies cuts target price to 65 from 168, and a hold rating, maybe this is why we are down a little.
The way the chat is going on here you would think TLW has only one or two projects going and the company is banking on Carapa being a world beater, i don't think the share price should be at this level anyway not when they have got assets that equate to 150 per share, even if Carapa is a duster the share price should not go down all that much (but we all know it will) The share price is nearly at rock bottom as it is, so if we are all banking on Carapa coming in maybe we are in the wrong share.