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McMoRan Exploration Co. Message Board

  • onwardskyward onwardskyward Nov 27, 2012 7:46 PM Flag

    Resolved this week

    Last night, I stated we would have resolution on the well and it would start flowing in a few days and worse case next week. I might not be a full blown O&G guy and I'm surely not Nostradamus, but I know enough that we will have results any day. JB was hoping to hold out just a few more days, but he was outed by someone and the panic started. Watched many of stocks get battered unfairly and MMR fits this scenario. Nothing has changed about this field, but validation and we will get it shortly. Same story, same situation and without all the noise we would be hanging around $12 waiting for the results. JMO

    Sentiment: Strong Buy

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    • "Nothing has changed about this field, but validation and we will get it shortly. Same story, same situation and without all the noise we would be hanging around $12 waiting for the results."

      Sorry - a lot has changed - and not for the better. IMO there is a much increased risk that DJ1 either will not flow at all or will flow at reduced rates - hence not generating at least some of the cash we need. As for the noise - go back to the last Schiller talk - several weeks later with no news was in itself a scream of trouble. What was a high risk play is now a much higher risk play.

      Then there is ole JB saying he will be the first to tell us - yeah - only if it is all sun and roses. If not - we sheeple are allowed to wonder in the wilderness while those in the know make the dough.

      Bob

    • Onward,
      I could not agree more, we were warned by JS to expect some tweaking at his last presentation. I think JB and gang are surprised by the market reaction, and simply felt they needed to respond, even if not fully prepared. In their mind, the game is not over!