With a real possibility of coming oil receipts (including the recent sidetrack production) approaching a level where the market cap will be covered in one year only of production .
The market is a strange beast where some companies have market caps over a $Billion but no earnings, and some have market caps less than half that and earnings that justify the capitalization in about a year .
The seller is probably under pressure to reduce . IF it is NXS then they have to disclose to the market .
But the reality is the shareprice touched $1.14 post merger failure and has been briefly to $1.30 yesterday, so it can be argued that the Buy demand is not neglecting the opportunity here . Sellers must be under fiscal pressure to sell so cheap .
AZA
anzon australia limited
