I think that this chart looks very strong and that we are moving/breaking out of a downwards channel which started with the peak of 70p on 10.2.14, a bit of time will be needed and positive developments in Argentina plus oil price. All in all my personal opinion is that the movement back up has started, but time will tell.
I mentioned below I take broker ratings as a pure indication as they always move as deemed appropriate, in this respect I have just noticed that the lowest out there from Macquarie was 27p on 15.4.15 (even if thes tock is one of their picks of the year) and now after only 2 weeks (and related price change) it has, as at 28.4.15, gone to 34p.... the other 3 brokers still have targets of 72, 80 and 82. As usual time will tell, but 2015 is an election year in Argentina and things will change.
I had a look at the new corporate presentation available at www.andesenergiaplc.com.ar and find very intersting the Forward Plan towards the end and the Vaca Muerta section confirming that their plan is: Farm-out to major partner to start a massive development ! Incidentally a few pages before there is a clear summary of who are the big players that have recently farmed into Vaca Muerta, namely Petronas, Exxon, Chevron, Shell etc. I wouldn't be surprised if some of these players look at the AEN asset base today on the back of the recent oil price slump, as they all know that this years' low will represent multi year price lows.
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