No volume then no gain in PPS. I don't think longs adding more shares is enough to move the PPS. If those potential shareholders waiting on the sideline already believed there was oil but just not convinced how much oil then the PR won't have any effect on the PPS IMO. The PR suggests less oil than what the first PR implied so the sideliners might be disappointed and will continue to wait. The Red Rock portion of the PR was nothing new but just more specific than the last Red Rock PR. The PR does show some credibility on Treaty's part with their retraction. I question why it took so long. IMO these sideliners won't buy until the wirelining analysis is back so they feel confident in the amount and type of oil in the first and second wells. There are many more wells to drill so I don't understand the emphasis on the initial two wells to begin with. We have 12 more to drill in Texas. I think that Treaty thinks they still have a significant amount of oil in the Stan Creek field. They are drilling to 4000 ft now. I think they stayed humble on purpose in this recent PR and apologized in their own way to the GOB. Now they will move on to the 6mm barrels of oil IMO. Then the PPS will move once the numbers and type of oil comes in. I believe there is a commercial find under way.
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