Post by
Spip113 on Dec 29, 2020 11:19am
Down we go. Support at 1.40
DME is not taking advantage of the leg up we see in commodities stocks. The market remains concerned. However, depending of the third well results, we could see a nice bump. I'm actually out for now. Happy trading !
Comment by
Bertie20 on Dec 29, 2020 12:58pm
The difficulty is that the third well result could prove meaningless if Flagstaff gets its way. I'm optimistic that Flagstaff's intervention will fail--hopefully, the city can reach agreement with DME in which, say, DME makes a legally enforceable pledge to never do fracking--but the legal uncertainty is very unhelpful.
Comment by
Spip113 on Dec 29, 2020 2:08pm
I agree. Negociations could englobe the deepness in order to avoid affecting the water reserve. In fact, it all depends on the federal power to do something or not.
Comment by
Buyhigheatchips on Dec 30, 2020 5:44pm
"Englobe the deepness" is my new favourite phrase. Thank you!
Comment by
Spip113 on Dec 31, 2020 9:54am
Isn't that poetic ? Lol. Happy trading !
Comment by
FilProTrading on Dec 29, 2020 1:06pm
Agreed - hopefully, we'll receive updates in the next few weeks on the legal challenge and the results for the third well. I imagine the DME management team would like to get resolution on the legal situation prior to releasing information on the well results to get maximum momentum for the PR on those results (assuming they are positive).