Short term price movementsFWIW, there are a great number of traders who time earnings releases with stocks like PBG, buying 2-4 weeks before earnings, then selling right before, or shortly after, earnings are out. The same crew will start getting back into PBG,in late January. The action we are seeing is, IMO, normal. Based on THAI progress to date, we're not at the slam dunk stage, but my WAG is odds are now 80/20 in favor of THAI. The market will want to see three well pairs on steady production, for six months (May 2007), before the huge bull run starts, for PBG. What I wonder is, when will the "market" realize that PBG has well in excess of one billion recoverable barrels, of between 11 & 21 (Capri) API oil, in place, at White Sands ? If we assign a Blackrock takeover price, of $4/barrel in place, we get a minimum of US $55/share, NPV, and if my WAG is correct, that there are at least 2 billion recoverable (THAI) barrels, PBG has an NPV of at least $110/share. Now, let's assume that THAI will also work in Columbia, where PBG takes a minimum 25% royalty, and there are another (conservatively) two billion barrels in place, and things get quite rosy ! All IMO.