Looks like investors waiting for some verification of the PIP enhanced process. Price ran up on news then true to form for these plays corrected downward, but still higher than before. A positive result from this Texas well would really ramp up interest in NM. The decision to drill Texas first is a good one...assuming it works out would make financing, etc much easier. I haven't got any other O&G plays at the moment that are more exciting.
Although this is not a big play for EDEX, there is the credibility of PIP riding on the success in Texas.
I hope no news is good news, although when it comes to hitting oil, quick confirmation is more ususal. Must be getting close to the outer time line for the drilling.
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