good stuff
wonder what info will get from origin
M
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any ideas why the SP would drop if drilling has just started...??
Its a pretty illiquid stock with not much depth either side, and just so happened that yesterday someone needed to get out and had no option but to sell down to what was available. Nothing to worry about, like moosie said (although a bit more theatrically I might add)
Interesting to note still no announcement from any parties good recent presentation from premier suggesting size of target being 35-120-190 mmbls.
http://www.premier-oil.com/premieroi...n_June2013.pdf
Interesting to note rig zone have the status at drilling for a number of days so far
http://www.rigzone.com/data/offshore.../Ocean_General
Ran to aud$0.60 in early 2009 following finding oil in a similar sized prospect as they are about to drill could be well over $1.00 if they hit oil in the first drill and oil let alone the other 3 drills before the end of the year.
In the meantime me thinks Boysy is getting ahead of the game. At the moment the company does not even know it is involved in a drill as I am sure if they did they would tell us. Not the making of a company that's SP is about to go north. So lets just wait and see if the SP can even get to asset backing which must be 15 or 16 cents NZ.
Digger do you believe Ppp are not involved in block 121 ?
In regards to the drilling schedule it's available for all to see
http://www.panpacpetroleum.com.au/pr...lling-summary/
Have you heard different digger ?
boysy - if 121 hits oil then that highgrades the other prospects
premiers last 4 drills have all been successful and they know a lot about rift plays in Vietnam
M
[QUOTE=boysy;411040]Digger do you believe Ppp are not involved in block 121 ?
In regards to the drilling schedule it's available for all to see
http://www.panpacpetroleum.com.au/pr...lling-summary/
Hey I was only trying to be funny. Naturally I Know and PPP know they are involved in this drill but as they have not yet said so I took it as an opportunity to stand it all on its head by suggesting the opposite.
currently I do not bother watching the SP relative to the asset backing,but it is at least 3 to 6 cents under the value if sold tomorrow.
The one point I am serious on is that if PPP is involved in a success the SP will not go up like it did in 2008. Last time it came back down so this time the market will be much more careful and demand proof,so I see an upside but very unlikely to be a repeat of 2008.