In addition to your comments, we need to remember that within a few months, fracking will be completed. This project already has approval and the drill will be onsite shortly.
Also, IMO we have a team that, to date has executed professionally so I cannot see any reason why this would change, so I sit tight with a high level of confidence with regard to; a) execution of fracking and b) positive results.
As you know, when an SP drops there are always reasons to be negative and vice versa.
Look at all the negativity during the Japan disaster. People offering supposedly "valid" reasoning for selling and inferring that it was based on fundamentals when in reality it had nothing to do with fundamentals and everything to do with general market sentiment. As soon as the SP bounces all that "validation" is out of the window and long forgotten.
Nothing changes the fact that results to date are as good as it gets and based on historical evidence/comparisons there is EVERY reason to be positive on the outcome.
IMO. fracking will be executed well, and will show the authorities that responsible management teams can negate any uncertainty with regard to safe practices.
Plenty of deep sea oil drilling happening, even after the BP fiasco. Why??? ...... Because there is a need for it and it was abundantly clear that the risk is relative to safe practices and the enforcement of such practices.
This is why it is vitally important to have a solid and responsible management team. There is risk in every aspect of drilling and mining. It is the team that vastly improve the environmental and safety record. I have faith in this team!
ADE Price at posting:
13.5¢ Sentiment: ST Buy Disclosure: Held