The rationale thing It's bad news, but from bad things we can learn the most.
What i think is a mental problem for many shareholders, to accept the loss and draw a line. Once the bad news comes, the subconsciousness is searching for a successful possibility of escape without much harm. I always try to observe myself to recognize it, if i tend to do it.
Nevertheless i want to note, that i have a gut feeling, that tells me, that something is not as it seems. Probably this is only a result of this "escape mechanism", but since i didn't invest much money, there is not really a reason to do so.
1. They shut down and gave the rig away. On the other hand they tried to get another one. But they never before mentioned, they will only have the rig until beginning of December. They suggested that if wheather is good, the testing could continue.
Does this fit together?
2. They shut down the hole, but then they mention that laboratory results are still being expected.
3. No explanation or theories, why the oil didn't move, although the permeability initially was supporting their positive expectations.
4. The cancelled AGM long before.
5. But no insider selling.
Probably fully unfounded, but my gut feeling tells me, that someone could be very keen on PFC for cheap. The hole is shut down, everything sems lost, someone makes a cheap offer and then, suddenly, the laboratory results show, what must be done to move the oil.
Wishful loserthinking?