Yeah don't really get that resentment really. It is simply not a perfect world and accidents and things happen even when all due care is taken. I am pretty sure the directors didn't want 76-H to have a down hole breakage but what do you do when it happens? It is completely ok to feel disappointment and it probably was very painful to a lot of people financially who invested back then. However that is the risk. If you put a $1000 in and try to make it $3000, that's not free money or an absolute, it's not a term deposit, it is risked money. So if you make the decision to risk it and it doesn't work out despite best intentions, why condemn the company for eternity. At least they had the sack to get back on the horse and try another drill with lessoned learned. Anyway, 6 weeks isn't a long time for an intuitional investor to wait; just a drop in the ocean as they might be happy to make an investment for 5 years before looking for a return. It is only the small retail investor and day trader that don't like waiting for flow tests. The reality is the market will likely move between announcements based on speculation of outcome anyhow before it is actually announced. The big money will come in after flow tests confirm commercial, but there will always be an element of people wanting to take a punt early.
The announcement today also says "This may take" not it will take ..... it might take 1 week!
OEX Price at posting:
9.5¢ Sentiment: Buy Disclosure: Held