RE: Latest on PSCHello Everyone,
To respond to your question.
What appears to be holding the stock back is not a lack of oil but the political situation concerning the PSC contracts. EOIM presented a recent article to the effect that the Kurds were given a draft of the oil law to review. This is bullish news since it means that PSC contracts will be honored in their present format. I had previously heard that a June 2011 vote would be made on the PSC contract.
VST is due to report its logging report at total depth in June 2011. WZR is due to report its Jeribe logging report, most probably in June 2011. LFD has some serious warrants expiring in early July 2011.
We have had a serious correction which was needed to remove weak hands.
What this means is that we should start to see some sort of rally with legs beginning in May 2011, gaining strength in June 2011.
As we move from what is now a HIGH RISK STOCK with no activity and a low stock price towards a LOW RISK stock with oil production and a very high stock price.
Risk will be reduced as follows:
a) Signing of PSC
b) Confirmation of Spud date commencing
c) Confirmation of oil find by both VST and WZR
d) Closing of warrants giving much needed $$$ to LFD
e) Confirmation of 10,000 barrels per day for LFD for Jeribe
f) Oil Production (Very huge stuff) giving $$$ to LFD
g) Drilling of additional hole for LFD
h) Confirming additional oil expansion.
So as you see we work ourselves from HIGH RISK to LOW RISK. It means for you that you buy stock at low price now and see it ramp upwards.
Some posters want you to believe that we are at LOW RISK now moving to HIGH RISK and here I am speaking of good40 and kurd30. Talk about being on the wrong page.
Good Luck,
JMHO