Sliced bread, i am in as much disbelief as you, but here are my...

Sliced bread, i am in as much disbelief as you, but here are my list of theories as to why people are selling:

- markets are in turmoil and risk is definitely off at the moment

- with this back-drop, the markets are currently valuing EXS around 70c cum-div and probably around 25c or so ex-div, so we are just bouncing in a short range around that level

- doesn't help that the company has been silent on WD extensions and drilling results. The market must just be assuming the worst, rightly or wrongly. Hopefully we hear something shortly after the stock goes ex-div. looks like we need at least some news to push to the next level

- like oze said the other day, we can sleep well at night as we are currently undervalued, are about to receive more than 50% cash back, plus franking credits and still have plenty of cash backing and cash yielding assets

so, take the opportunity to top up if you can, as I am intending to tomorrow or wed. Downside is still extremely limited for the reasons stated above and there is a chance of upside if we get some good results. Think of it like a free option. It hasn't quite played out the way we all thought it would, but it is still the best bet in the market in my view.