IOC's volume has been drying up as the market heads higher, short interest is rising, O'Neill is in Port Moresby next week (see breaking news in the Post Courier... NEC approval?), RDS/CVX/JKM and others bid for the resource according to reports. The stock has been beaten down for no apparent reason, but the news flow is on its way.
Sentiment: Strong Buy
In the words of Boston, the band, not the poster, we need more than a "feeling" at this point.
There has been no report that RDS has made a bid. There has been no report that CVX has made a bid. Show the factual reference or stop stating otherwise.
The stock has not been beaten down for no apparent reason. The stock has been beaten down because there has been no concrete news about deals since O'Neil announced he was forming a special government negotiation team. The momentum up has been lost at this point until something concrete is actually announced.
Some have said this project is the highest priority of the government. I have not seen any urgency to get a deal done quickly. The only timeline O'Neill has given is he would like to see it done by the end of the year.
Rumors of imminent action have been completely discounted. Soon, imminent, any day have no meaning anymore. It is the boy who cried wolf.
I am very happy that we are stable at this price level. The news that gives me confidence is that the new well has been spudded.
I believe that there will be a deal. There are some posters who will choose to gloat on that day and state how stupid the rest of us were for having doubts. That criticism will have as much merit as the any day prediction because a broken clock is right twice a day.
Cfing: could you do me a huge favor? Would you be kind enough to tell me who you think is going to win tomorrow's college football games? I want to make sure I bet against each and every one of them based on your psychic abilities. Thank you in advance.