I have also been surprised by the lack of interest in a company that produces over 2000 bopd and currently sits of a PE ratio of 3.2.
With a producing asset that keeps them cashed up to 2020, it seems ridiculous to me. With oil sitting at well over $105 per barrel US.
On the announcement from yesterday while not definitive it is certainly encouraging and increase the chance of success significantly with the primary zone still to be drilled.
The massive sell down of 624k for the day, I wonder other than us who are on this site is, anyone else watching this share.
I am sure they are. It is a real game of cat and mouse and a very very small sell down to a scared and disappointed long term audience expecting a healthy jump in share plays right into existing fears. Even if an announcement was to come out that oil was gushing at 10000bopd, the people on this site wouldn't make the share price move.Been beaten up 2 many times, but very tough for hanging in there. IMHO
Need those buyers who got capped out 6 or 7 weeks ago to have another crack!
However you might get up in the morning or a couple of days later to find more gas shows in the lower sections and a few traders willing to take a punt.
Share market moves in mysterious ways sometimes!
Looking decidedly better than 2 days ago!
NDO Price at posting:
3.2¢ Sentiment: Hold Disclosure: Held