No PanicInteresting trading. Down in the US (about 4.3%), and Brazil (just under 7% the last that I saw). In the US, afternoon trading looked very light, and on nil afternoon volume, the price went from flat to down.
Enthusiasm is certainly off as US trading volume was down about 20% off the 10-day average. Clearly, the rumor buying has dried up.
On the comments from others, I have a couple of thoughts.
1. Stop drilling in Brazil. The Brazil 3D has missed the mark and there is no reason to drill more gas wells in Brazil. It was cool for HRT to hit 4 of the top 10 all-time gas wells, but until we can turn it into cash, no reason to shoot for 5 of the top 11 all-time gas wells.
2. Our British Brothers at Chariot. Nice to see the Brits rooting for us poor Americans and Canadians on HRT. I am still hoping the rumors will be confirmed with commercial oil, but other than early Byron Agora posts, no one ever said this would be like shooting fish in a barrel.
3. Consider Other Options. Great to see over 200 meters of source rock off Namibia, and like the Namibian oil minister, I am betting on eventual oil production from Namibia. In my case, I am investing on other Namibian targeted opportunities. We only delude ourselves it we think our drilling campaign will be different from North Shore drilling. Frankly, it could take a number of holes before someone finds a hole with the Beeeeeg "B" (as in billions) offshore. With a great team of advisors (including persons other than MM), it is just a matter of time. I have paid to hear the fat lady sing, and I resent moronic historical comments.
At this point, I would think that we all know the HRT story – the good parts and the bad. If venting here makes you feel better and after you do so you no longer feel you need to kick your dog, please feel free to post, but please also remember that for the rest of us it gets old fast. After a couple of complaints, please act like a man and internalize your emotions.
Have a super day and GLTA!