It appears to me that so many of us expected a bounce, that we all kept loading the boats at .13-.15, so when the drilling started, no one really had the extra cash to go in for more. Combine that with the fact that everybody who was willing to play the gamble, has already long been in.
Had EDEX came outta the blue and announced the Mesa, while it was trading at perhaps .10 or lower, the excitement would near certainly have caused a run to the .20's.
JMHO.