James, P&D does no stand for Profits and Dreams, it stands for Pump and Dump. An excercise often used by cahs strapped companies to raise cash. It has so many variations that I cannot elucidate more. Mind you, I am not saying this is what is occurring, no way for me to know, in all these cases, if it was P&D, we only now it was, namewly after the fatc and holding the empty bag.
Right now, the news releases looks like an agreement to agree, meaning nothing, not a single well was spudded, in the concession, do not dream yet about a finished exploratory one. It is pure wild cat, and juust because there some fruitful fields nearby, it does not mean this one will be (on the positive hype side, there is absolutely nothing to indicate that their might not be oil in those Caspian bottoms <VBG>).
It looks like the familiar game of musical chairs, but nothing is new about this, the market just went through 8000 like through butter.
Zeev |
