Joarcam well hits gasIt seems that they did hit 4 gas bearing zones in this well. They will now proceed with casing and flow testing the well. It will be very interesting to see what this well produces.
I am very surprised to see CDO trading as low as $0.15. The low price certainly does not seem to be justified in view of what is likely a commercially successful well.
The low share price probably reflects, in my opinion, poor overall market conditions more than anything else. There are a lot of technology shareholders strapped for cash these days. I will be buying at these levels as I believe this is a short-lived buying opportunity.
tk