Krom, it appears you (and me too) correctly called the recent bottom in the high 30s. GOOD JOB! Your thinking on the EEZ progress propelling the SP also appears to be spot on. This EEZ news has distracted all of those who want to get the drilling results NOW and can not wait until the analysis is thoroughly completed. Tying in the the drilling results delay with the EEZ also makes sense IF Sinopec is involved in (or wants to be involved with) the EEZ. The fact the ERHC may receive a shitload of cash from the EEZ rights within a year also bodes well to the SP. Where is the downside to this stock? Only the remote possibility that the drilling results are really bad (highly unlikely) will stop this train from reaching the dollars.
if the trend continues for several sessions it would be a clue as to the other numerous rumors we have heard for months and months. i was of the opinion a pre-drill buyout was not really on the table...were there probes at some low number, probably.
however i do feel, based on much of the same reasoning put forth by some, that post drill analysis (which should be nearing completion) and eez block selection done a buyer or major partner will surface.
snp will win ultimately but let us hope several suitors appear to keep the bidding moving higher.
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