Good questions...no telling how it plays out. You can only guess when Ray will talk...and what might unofficially leak out in the mean time. Suppose Ray says nothing about drilling until some time after the second well is drilled??
We may not know with total confidence the results of either well. Share price could spike to $10+ on rumors, short covering or whatever...then tank back to $5 on consolidation.
For now the share price still feels like a collar is on...