You have mentioned a couple of times that NIS has found oil in Hungary, but it is much more likely gas as that is what they were drilling for. When they mention Hydrocarbons in the press release - this would be referring to any combination of natural gas methanes.

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The share price has been hanging in fairly well in my opinion, as we still have a market cap of almost $200 million and now almost 1 billion shares in the float - so it will take some fairly substantial news to move that big of a float for any permanent gain. I don't expect anything on Australia until the fourth quarter - even though we have a number of majors scouring the data - as the Beetaloo will require a big investment in cash and logistics, and the bigger the oil company the more hands that have to sign off on anything this big. I am hoping for something in the fourth quarter on the Karoo, but wouldn't be too surprised if the slow moving government machinery puts that over into early 2014, and the same for any real testing of NIS's three well program. The Hungarian government has put in place a punative 30% additional tax on oil and gas well incomes, so I expect NIS (plus Falcon and other drillers in Hungary) to say to the government "look we have found hydrocarbons - but don't expect us to rush into production anytime soon - unless you get your tax regime in order".

As Oilmaninvestor has stated a couple of times, pick your entry points and have some patience, as this will take a few years to unfold, but the investment at these levels - will disappear with any significant news. I don't expect the stock price to runaway to any kind of 5 or 10 bagger though - until we start getting actual oil and gas flows that indicate that the Beetaloo is going to be very prolific!! However, some big player like Chevron or Shell stepping in to the Beetaloo could move the share price up to Cantor Fitzgerald's target of 34 cents - before the backroom boys start bringing it back down over time again!!