Personally, I would like the company to produce quarterly updates like CAZA do, I know CAZA have a legal obligation to as they are listed on the TSX, but I think this gives a much clearer picture on production and finances on a regular basis. It's all well and good producing RNS after RNS about production figures, but we know that IPR's aren't the best indicators as the decline could be quite rapid. It's all a grey area and vague as none of us really know what were producing but the BOD must have a figure.
The market clearly aren't impressed with all the updates and probably just think it's just more of the same. It's all well and good saying about the end game but I'm sure most investors don't want another 2-3 years of what we've had over the last 2.5 years. Why buy now when you can wait another 2-3 years waiting for a takeout as most investors money has stagnated here. Now we will have another long wait for more wells to come online and it'll just be more of the same anyway.
I have to agree though very expected of course. With BOPD, that must be approx 320-350 mark now, the Mcap is a pure joke and has been for along time. How in any way can we be valued at 10.5m now and near twice that 2 years ago (before the spike) with approx 80bopd.
Indeed how can we have settled at 2.2p following the 50% sudden drop on nothing, when most expected an approx bopd of 200, yet now were over 300 and we sit at 1.1p!..surely insane.
For this to move the BOD really need to spell it out to the market, nice and simple. BOPD stands at xxx.
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.