Schiller said today Pendragon is at 13.5K and approaching the area where they expect to begin to see pay from now to TD. Given that he has said he doesn't want to talk anymore about single well situations and XOM is involved in approving release, I'm guessing we won't hear anything on this until the 3Q call. The crowd at IPAA in NYC in mid-April will be frustrated.
Looking at the chart, the 50 dma appears to be at $32 and the 200 dma around $32.30. Perhaps a favorable reseult with Exxon at Pendragon will propel us back to those lofty levels. Our chart is ugly but the stochastics have turned up and if we can remain above the $29.70 level through the end of the week, a nice rounded bottom would be in.