Why Ian Davies has failed us, page-12

Hi huz,

I only bought into SEA following their recent acquisition which took their 2P reserves to 100mmboe - SXY is 120mmboe from memory.

Based on my EV/2P ratio both are attractive.

SEA is now successfully monetising its assets, something SXY should be miles ahead of given where SXY were 12-24 months ago and in line with what they promised us in their announcements.

Im still heavily weighted to SXY for now, but that could change after the share price rise I envisage next week when SXY issue their outlook.

SXY will be a superstar whenever they actually decide to monetise their assets, Im just no longer certain how long they intend on waiting and doing nothing though.