RE:Big dropI can't think of a specific reason for a sudden big drop of this size, given the timing of what is right ahead.
There might be a soft Sproule resource report- but I think it is too early for that. They won't start the summer drilling until the longer 2D seismic line is done and the other geophysics are fully interpreted, to help to position the two step out wells optimally. Wonder if they will have any trouble scheduling the rig quickly. Cannot think of anything else that could have happened to warrant a huge one day drop. Just too early for he stuff we are waiting for. Maybe just impatience on the Sproule resource report, ongoing worry about flow rates and pressures, worry about complexity of a fractured basement play, realization that the summer work season is short and major work delayed until the site the step out wells and get the rig on the schedule. They are working to move ahead, they just released something about status of h the geophysics but they don't have that fully analyzed and the long 2D seismic line is still to be done. Any other ideas? Maybe it will become clear. Maybe just some selling due to worry that Sproule report may be disappointing. It is supoposed to be out in July.