RE:RE:RE:Small Position - Rationale FO Completely different exploratory programs and different partners.
FO didn't strike with NIS.
My point was more of
(1) even micro-cap drillers don't necessarily trade in anticipation of a strike, FO is evidence of this. EW is a nano-cap meaning the volatility is even greater.
(2) NIS has a history of walking away when a drilling program with a partner fails. As far as I can tell the EW-NIS program was only to take about 60 days and we are far past that. To me that indicates a greater than 50% chance that a monster may have been found and they are trying to figure out exactly what they are dealing with and even possibly delaying the results so as that prepare a BO offer.
Now that is HIGHLY speculative...but for a 100,000 shares @ .125 with 50% of that PPS protected by cash, highly speculative is the point.