Somewhat surprised this one has not gone for a bigger run, prior to commencement of drilling in Uganda. From 18 to 25 cents over the past few weeks is just par for the (oilers) course. They are drilling in an area with 100% success rates over the past 3 years; the company has $35 million in cash and made a $2.5 million profit in the last half year. 175 million shares is not excessively large. Perhaps the punters are scared to put too much cash into a company like this until the action really commences; I bought more at the close today because when news that drilling has started, this might fly. By the way, they say the results of this well will be known within 2 weeks of the commencement of drilling- fingers crossed, folks!
GBP Price at posting:
25.0¢ Sentiment: Hold Disclosure: Held