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Strategies & Market Trends : Ride the Tiger with CD
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To: hank2010 who wrote (124746)7/22/2008 2:36:30 PM
From: Nevada9999  Read Replies (2) of 313930
 
I haven't given up on GXS, but sold 60% of my shares yesterday for about $6 because this market has been so harsh and stocks tend to go down more rather than less. I will buy back at lower prices or maybe higher, the jury is still out. Drilling from the widely spaced drill sites permitted for diamond targets is making this an ultra volatile play. Drilling is usually humbling even with smaller step outs.

It sounds like the coal seam is partially eroded to the south and is at the base of the unconsolidated over burden. This is not all bad, because stripping will be easier. There was about 40m of Cretaceous mudstone above the seam in the original holes. I don't know why they moved even farther south, maybe hoping it would roll over and dip downward again. Regional geologic maps indicate broad SW plunging folds in the area.

It also sounds like there will be an uneven erosion surface below the seam based on what EC has posted. That makes sense. This and the folding are going to make this a crap shoot while this very wide spaced drilling continues. I don't believe a 20 something meter coal seam will thin rapidly in all directions, but the volatility here may be huge. People will need to pick buy points very carefully. So much for the perfect storm. Rough value of this play may not be apparent until winter drilling with a lot more sites permitted. I still think it will be big.
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