Excellent post, ninety-nine! (To be read with the "get Smart" twang).

Everyone should read that post, as I believe you have hit the situation dead on! Since I am already fully invested, I'm not about to sell and take my chances with attempting to time this thing at this point.

I would only add the following as to how long the smart investor can chance their timing before stock appreciation will cause diminished returns from waiting to long to purchase: Ecu may not have to be so very close to showing actual profit before buyers pile on if it is perceived that their is a definite risk that ecu may soon be bought out at a significant premium. I believe that threat of a much higher "instant" stock price will appreciate greatly as all of that "potential" resources is proven up to inferred resources.

Thus, the conundrum: How long does the smart investor dare wait if drilling this season shows significant headway?

18tee