As a relative newbie to the oil sector.. my take is there are hundreds of companies doing exploring and drilling and announcing news like this. Then things get delayed or drilling isnt successful, or a multitude of things like hurricanes, safety incidents, etc can spoil the best of plans.
So I think the market only rewards oil companies based on actual delivered results, not on potential. Once BYE starts reporting positive cashflow in June accounts and then again in December accounts, we should see a re-rating upwards IMHO.
BYE Price at posting:
33.0¢ Sentiment: Hold Disclosure: Held
