It does not take any volume at all to bring the share price down.

It matters not that Szabo spoke optimistically about Falcon and Mako. It matters not that logic dictates that the JV is not done with the project. It matters not that there are several weeks left before XOM would pronounce its intention to continue onto phase 2. It matters not that F1 is not representative of the whole Mako play. It matters not that this is how exploration projects normally develop.

So what does matter?

It matters that we are at year end and investors will claim a tax deduction when they sell at a loss. It matters that XOM produced a lot of water instead of a lot of gas from F1. It matters that there is a negative perception of the the way forward.

If everyone claims their tax deduction, this stock would be closer to zero. So why don't all those who own the millions of shares do that?...I dont know the answer to that one.

db