OTCPK:WSRLF - Post by User
Comment by
vindaloo_u2on Jan 28, 2012 4:54am
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Post# 19460839
RE: WZR
RE: WZR The next piece of news to come out of the area will be on jan 31st (exxon results). If they confirm the go-ahead with kurdistan, it will be a major boost. If exxon continues to drag this out, playing the mute, i would have to conclude that the majors are working together with the iraqi govt and possibly some members of the krg to devalue the smaller players in the north before picking them off one by one.
There has been minimal volume for the past few months or so (not counting crosses and share volleying between MMs). Your guess is as good as mine as to what they're doing.....beefing up avg volume to encourage investors?....creating a base to slowly dump into?....grinding down the nerves of retailers to force them to cough up shares? Who knows. It shows me that the MMs know they have time to play these games. They don't seem to be in any hurry....either to dump or to accumulate. Management stated MQ testing results would take a couple of months. I guess we'll see how the sp reacts as the release date approaches but we can count on a few psych-outs before that happens...especially when the MMs seem to be the only ones on the bid and ask.
Other news of note which will be released in the coming months: greater oil production/sales from sarqala due to capacity increase, kurdamir 2 initial results, more majors entering kurdistan, prospective/contingent resource increase etc. I don't believe that the BIR for Garmian will be sold until it's packaged with the rest of wzr...hopefully after testing results from the TLM topkhana and our Kurdamir 2.