Shorters have been put on the alert by br bulls; they have been advising shoring for quite a while!
As far as I know, the RR is on a multiyear contract with Repsol so if promising results are being obtained it could be that more drilling in the licence in Walvisbay could be attractive to do before RR leaves for other Repsol operations.
The questions to answer for me as a shareholder in TRP are quite simple: What do I consider the chance of a duster, and what is the underlaying value of TRP in case of a duster with the current drill. The answer to the first question is that I consider the risk of a duster small (below 30%). The guess for the underlaying value of TRP in case of a duster is still well above 1 p.so not too bad at all imo. Keep sailing and decide before the end of this week with how many shares I will be waking up on Monday!
I wonder when the shorters are getting cold feet!
I think that in case of a strike we will be looking at both gás and light oil and the presence of both can delay or lower the speed of drilling imo.
HRT drilling started with WINGAT 1 on 25/03/2013 and the results were released on 20/05/2013.
I have been unable to find a single 5millon trade on the LSE site; the biggest I noticed was a 1 million shares at 3,10 p delayed on request. To me it looks a buy.
I do think that as from tomorrow onwards it can become quite dangerous to short TRP and therefore the only way sp will go down will be based on rumours and/or unexplained movements of RR.
Have been Reading that PEMEX (Mexican oil) is selling their holding of over 8% in Repsol; they seem to need the Money!
I am almost sure that HRT did not drill into a 4way dip closure in their 3 well drilling; the best they got seems to have been a 3way structure.