Ridiculous Unless they came up with nothing but dirt on the latest round of drills, there's absolutely NO logical reason why this should have been hammered down to $1.23.
I've always said that the stock market is 5% fundamentals and 95% emotion. This was a prime example - 12.8 million shares flushed, out of nothing more than sheer fear.
Congratulations to those who had the opportunity to buy today. You will soon be rewarded. At the very least, this is poised for a righteous technical bounce.