'Putncalls' pid='48259' dateline='<a href="tel:1407451 Wrote:The market says that Wahoo is a dud. I think that If anyone is keeping score the market has been right most of the time with IOC.
No one knows if a Wahoo is a dud or a discovery. Not the Market and not IOC. That's why IOC is working up plans to re-start the drilling in a safe manner to understand what's the reason for pressure above 5,000 psi while also having gas present at that pressure.
IOC's PPS is being held down at this level by people who want to keep buying ahead of the good news that'll ultimately come our way. It's a combination of Shorts covering, Macquarie buying shares on behalf of IOC and probably Longs who want to slowly add more.
Some folks speculate that we'll soon have a lowball takeover price and that company (whoever is preparing a bid) has been engineering the PPS hold-down in advance of their offer; ie, they can't make their lowball bid if the PPS has crept close to that level.
Let's see what happens at the earnings CC. Dr. Byker informed that he will step down as COB this year ... Will it be now?