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Tuesday, October 30, 2012 9:03:15 AM
1) The data must be good. Tullow would not be the lead bidder unless this was the case.
2) I smell numerous PRs coming. The substance of these PRs will likely outline the following - contract finalization, 3D update (that is undoubtedly good or great), and perhaps anticipated drilling dates. If they announce that 2 wells will be drilled simultaneously - LOOK OUT ABOVE!
3) The Bank of America PR from the Spring that initially announced the farmout drove the pps to 1.30. What will this potential Tullow deal do? 1.50-1.75+? I don't believe RL would have even announced the current negotiations if it wasn't as good as done (or close to it).
4) Short covering alone may drive HDY above 1.00 by Friday. (I like this thought of mine the best.) :)
I slept rather well last night, perhaps the shorts did not.
Turnabout sucks, doesn't it?
GLTA.
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