214,000 lost / stolen oil represents about 6% of the approximately 3 million barrels produced from the UMU field in 2011. That's much less than the 11 % AGIP was asking for to cover this.
the momentum on the stock has been lost for the moment so the MOMo crowd sells off. It will take a little time to clear these out and any other weak hands. When the one time dividend and the pending Shell processing agreement are announced that will put some lift under the share price again.
As well, when the third party export terminal gets their capacity issues resolved, that will also provide some upward lift.
Buying opportunity if you were not already in. Close at 90 cents today, hopefully. Exactly where we started the year, even though we have confirmed a much larger oil reserve by the deep well results.
JFF7
It's better to be out wishing you were in than in wishing you were out.
"Markets can remain irrational longer than you can remain solvent". - John Maynard Keynes
