RE: TOM:-14 Dec 2018 12:40
It will recover. It was always going to be a cheap placing. However there are still only 90m shares in issue in total which is very few for an AIM company.
I can see this back at 7p to 10p in Q1 when the company are back in Utah to continue work. With 63m in issue it reached 14p so 10p is not a big ask when the company get back to work. Next time they will obviously get more done as they will not have the winter to deal with and they have learned a lot from the recent test.
The fact they have another 1.5 billion barrels on the new leases seems to be forgotton in the cheap placing news.