RE: RE: Something is up!! Porto will turn its near term focus to its Lias unconventional resource oil play while Mohave and Galp evaluate other parts of the basin where the pre-salt is potentially productive. The Porto Lias unconventional oil joint venture with Sorgenia International B.V., Netherlands ("Sorgenia"), and Rohöl-Aufsuchungs Aktiengesellschaft, Austria ("RAG"), concluded a 23 well stratigraphic drilling program in the third quarter of 2012 to jointly evaluate the unconventional resource potential of the Lower Jurassic (Lias) stratigraphic interval within Porto's concessions in Portugal. While the cores continue to show encouraging results, complete rock mechanics and geochemical analysis is ongoing. Complete results are expected in the first quarter of 2013.
"We are very pleased with the results of our Lias work program and the extra wells we drilled have allowed the partnership to collect more data to analyze and interpret," said Joseph Ash. "We and our partners remain very optimistic about what we are seeing in the data thus far."
Perhaps we will be receiving some news on Lias soon? Who knows...even prior to closing of the markets before the christmas break, volume spiked up on the 24th. My guess is perhaps they were waiting for tax loss season to finish before the next run up.
Again, that is just pure speculation and my opinion..but based on how the last free fall played out, I wouldn't be surprised if there was some manipulation...