Neither in the UK (Anzon Energy fell nearly 6% today on sod all volume)) nor Oz have we seen the share price boost expected from BM coming on stream. Instead we’ve seen retracement. Admittedly FP has yet to be reached, and oil prices are generally depressed, but wouldn’t you have thought news of 16Kbopd and FP on target and only days away would have kick started both sps instead of sending both off into reverse. Or do the markets see BM delays to date (FP originally was planned for Oct/06) as a company failure and have marked down accordingly. In which case how much of FP is priced in already? Views anyone?
AZA
anzon australia limited
