testing, PaiPai drilling If there is no news by the end of next week i would not expect anything until January as after the 21st of December the markets will go into the doldrums until the new year even though we may still be awaiting resolution of the fiscal cliff nonsense. I believe there is significant tax loss selling going on and that should come to an end by the end of next week as well. Still with no news we could see continued weakness until January.
It is true that Tullow were/are the prime mover behind the drilling of Paipai and although it is a 1 in 10 shot they have a pretty good track record. It is also a very large structure of 80 sq km. So if they do find something there it could be huge.
The string of pearls has been substantially derisked and with continued drilling along that trend in 2013 we will see the stock turn back up.
The northern string of pearls has also been partially derisked by the activity to the south and with success there in the first quarter of 2013 at Sabisa that trend would be further derisked.
While it is frustrating to see the stock price slide it is temporary. Tullow went through some pretty big price fluctuations along the way as well but if shareholders held on for the long term they were well rewarded. The same thing will happen with AOI!