Ann: Change in substantial holding, page-6

R15, always home but in holiday mode atm. Good luck whatever and all you do.

I think the logic on these oilers can be applied across the board & I hope my posts add a perspective but that perspective is really only a reflection of what is important to me, we all look at things differently which makes it interesting, unfortunately there is not much discussion here so it has been overlooked by the broader mkt.

There is currently good value in several producers but some have done better jobs over the past few years than others and the good ones stand out from the cashflow statements and poor ones from capital raisings. Imo it's probably a good thing to have smaller positions in a few or in cash atm as O&G in general still not the best but it is easy to switch anytime if things change and at least here our fundamentals support a higher price so is a much lower risk of losing money through dilution or dusters/sentiment. For GGE the major catalyst here imo will not come from the company but when the market pays more attention to fundamentals, the prospects and other activity around these prospects. Imo GGE mgt have done a better job than most as evidenced in the Annual accounts and quarterlies.

Challenge with the unconventional imo is the decline curve, high cost of drilling and low returns relative to conventional. Positive is the market loves the IP's so whilst they can keep the activity and focus from fundamentals and on reserves they will attract a bigger audience. That is neither good or bad but something to consider & pay attention to the detail. Very few imo have the money or current ability to develop the reserves they claim. This is not advice but more an observation.
Cheers & Bw