Orion - I believe the explorer referenced early in your post might be Real Energy (RLE). They are currently flow testing and have recently announced news of an MoU for gas supply which involves a $6 million gas prepayment to assist with funding. They also have an MoU with Santos for gas processing. It currently trades at $0.08 and there has been a broker report which references a $0.52 valuation - worth a read. I don't want to cross promote but would suggest having a read through their announcements and have a read through some of the posts on the thread.
I like what is happening at Armour and I am happy to sit patiently while they continue to move forward into the production and sales phases. It was in a different political and industry climate, but this has traded at a much higher share price in a position way off where we currently sit. Even accounting for the increase in the number of shares issued through some capital raising, the position the company is now in helps to show a great potential upside for shareholders.
I believe that news on the restart of gas production at the Kincora Project will bring interest and my opinion is that management are waiting for start up to be completed prior to finalising the capital raising involving existing shareholders.
AJQ Price at posting:
7.3¢ Sentiment: Buy Disclosure: Held
