Response from IR My inquiry to IR was sent on December 29, 2011
The email I received in response from IR was on the afternoon of December 30, 2011.
The wording in regards to Topkhana-1 troubled me when I read it and my initial interpretation that it was a duster are not necessarily so. There have been other possible theories discussed on this board and any one of them could be viable. The input and interpretations from different perspectives highlight the value of a public forum like this. I am glad I was able to provide something that has become such an in depth source of discussion.
Canadafox where did you receive your information on Topkhana. I have never seen any releases that contained the information you seem to have about drilling results on this well. As far as I know there has been no official information released on drilling results at Topkhana. I do hope you are wrong about another condensate discovery on that well. The market wants oil - anything less will not be rewarded.
I had another interpretation of the selling pressure that I had thought was tax loss selling. I have a wealthy friend who is a professional trader and does 5000+ trades a year all with his own personal account. He has also owned a public company in the past so he is knowledgable.
Anyway he looked at the wzr chart for me and he thought the selling pressure was more likely profit taking then tax loss selling. When you consider we were under 40c earlier this year he has a good point. The tax loss selling theory should have meant a rebound on the share price when the markets re-opened on Dec 28 after tax loss selling was over for the 2011 tax year. So the selling pressure and share price softness we see is more likely profit taking. He also didn't think there was a news leak on current drilling operations and thought I would be ok with my latest buy - but news is everything with this stock. Good news we go up and bad news we go down.
Mil Qasm news any day now. 10,000 barrels a day would do wonders for the share price. If the news is good we could be over $1.
This is going to be a big year for this stock. Simon Hatfield felt the share price should be $5 and I hope he is proven right. Go wzr go!
OceanRanger