RE: market depth still strong...Hi buckeye;
I expect to see this strong buying support to continue or maybe even increase further.There is a good deal of expectation in local circles that Vulcan may very well close a JV deal on either their inshore(Flat Bay), or their large offshore holdings, or both, in the near future.With the heightened interest of oil companies in exploring "new frontiers", to divert their strong cash flows into "blue sky" exploration, I wouldn't be at all surprised to see a few deals here.You may recall that Mr. Mason alluded to that in his recent article on Vulcan.
According to Mr. Laracy's presentation a few weeks ago,he is very optimistic of being able to secure a JV deal on the West Coast.He reiterated that same position in a direct quote printed in the Investor Digest article.
Should we see one or more deals soon, then the buying support that we currently see will increase significantly.
Len