RE: news was leakingI agree with the leak as being the reason to halt; but that is just my opinion.
As I have stated in a previous post this is by-pass drilling. I think they have another well to drill this summer too on a different block, but I can't remember where I heard that. They can use the cash here to fund that.
Again, by-pass is lower risk....risk is there, but waaay lower so this is a great stock if you have faith in the experience of the team - I read here they gave this a P50 (probability of 50% success) - they're being conservative so that on the slim chance the gas was not there they factored that in; thus my opinion that a good buy was around 1.30 -- it dipped below that, but I had no cash to reduce my costs further; I'm into this one as far as I can go with my portfolio - - remember, horizontal drilling can double production....literally. If this sucker tests double the original, then watch out.......just a waiting game now.
Hopefully a press release will be out today or monday.