StrengthLooks like most are wisely holding on for the sidetrack info confirming what we already know (massive reserve increase for Stella). I think this is partially baked in to the current SP, but if we get confirmation of success with the sidetrack in the Ekofisk/Tor that may add afurther 3-10mmboe, giving a total range of 5-12mmboe net from theEkofisk/Tor on top of the 9mmboe reserves already booked plus the extra 7-12mmboe as a result of the latest Stella DST (to be booked). Potential reserve upgrade from existing 9mmboe could be as much as an additional 24mmboe, totaling 33mmboe (can you say huge?), and making it more than a double, almost a tripling of existing reserves.
All in all this is excellent and is also the main reason we continue to see strength while many others have sold off due to the Greek debt crisis, which in my view will be resolved within the week by the Eurozone, Germany and the IMF (they won't let it go we've already seen what happens when they do that...).
So, relax, wait for the sidetrack, and if it comes in as I have outlined expect to add another $1 to the share price.
Disclosure: holding all, not selling (also because I expect news of a producing acquisition and when that news comes out those sitting on the sidelines will need anti-depressants).
COOP