Mr. Davies please take note, page-9

I prefer the share price to stay low until we have a concrete plan to move to the next stage. It gives all of us the chance to accumulate a great growth company as value investors.

We know there are gas and oil under the company, we know they are working hard to get those out and it would be “game changer” once they are brought on earth in 6-12 months time, the share price will move correspondently.
Such as if the share price double in 12 months, it gives you 100%return and beAt the general market by miles. So for some of you, looking at share price everyday and complaining about the share price will not make you a great investor. Just buy the shares when you know this is almost guaranteed a winner. (Be approximately right then completely wrong -Warren Buffett)

Here is an extract from IAIA news from the Sydney conference. See what the oil price has moved so much from 1 year ago and worry about higher oil price (without the inclusion of gas SXY has) will make SXY one of your top investment choice.

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Brent crude is trading at around $99 a barrel, up nearly 50 percent from a year ago, Reuters reports.

Some airline companies, such as China Eastern Airlines, have signalled plans to hedge oil while others, like Emirates and Delta, ruled it out.

Aviation chiefs and economists at the IATA conference suggested hedging did not avoid the inevitable impact of rising fuel costs.

“Whilst most of us have hedging in place, that hedging eventually runs out or gets replaced by new positions you have got, and it is a question then of what do you do?” Virgin Australia Holdings Ltd CEO John Borghetti told Reuters.

“If you look at history, typically some of that cost has to be passed on at some point because you just simply can’t absorb it.”

Between mid-2014 and early 2015, lower oil prices ushered in an era of lower airfares and bigger growth for airlines.

This year, the price of oil is expected to average more than $91.40 a barrel. The IATA had been expecting it to reach only $78.40.