From the horses mouth: "Mr. Dodson also explained that as the volumes of both the Bay du Nord and Harpoon wells continue to be evaluated, Statoil is developing a greater understanding of the geology and potential of the basin" Also: "This discovery is very encouraging" From the author: Tuesday's discovery marked the second discovery for Statoil in the Flemish Pass basin this year, and third discovery since 2009.
Seems like this is the time for gambling on price reversal rather than guessing the yield without company numbers. I am more bullish at this price than I was at 26 a share. That is due to the sale of oil and gas rights which will bring out a near a long term improvement in the revenues showing up on forthcoming earnings per share through record of income and reduction of future development expenses in addition to emergence of profit on the sales- a sort of triple. If hard sales can be improved inspite of this I think it is getting to be a better bet with STO. Also, I would like to add that companies like Zachs calling a negative position is at best a Johnny Come Lately call or Why ride the sled down the last 10% ( a call which Zach's would miss anyhow) and more like " Does Zach's thinks people will be impressed with a company that throws out a very after the market call? How would they think it to be that way?"