people jumping into the action today. up another 16% atm. 4 onshore oil projects on the books with kate to spud around may 16th apparently. kate is an anticline seeping oil approx. 50km north of christchurch in n.z..
Morning all.This is an interesting spec play,in mid may spudding KATE well NZ.What intrigues me is the fact that oil seeps to the surface in several places around the dome they are drilling.This indicates presence of hydrocarbons and possibly its under pressure and forced to surface.Reminds me of hardman drilling in uganda,oil was seeping to surface there and they hit oil with first second and third well.May come up empty but for me, im in.
hi henry, it's certainly an interesting story and even if Kate is long odds it has the potential to capture the punters' imagination and wallets....looking at the market cap around $10m and say 10-15% chance of success it looks like an exciting bet (not factoring in their other projects). We will see some action on Kate in May, should see a lot of volatility!
How do You think it will be in may-april? Up or down? I think lower than 20 % is nowhere to go. The chart shows the lowest point in 3 years is 0.037 aud. Is someone playing this?
the disclosure from the company last week was pathetic...I have lost faith in their competence when we have to rely on updates from the other partner for news. Furthermore it was sold down in the morning prior to the duster announcement. Should have been in trading halt most of last week to prevent this kind of thing.
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