I don't know what some of you guys expect. As others have mentioned ID has done a great job in managing capex during the period of low oil prices. During that time he has also managed to put Senex in a good position to capitalise on new areas of growth. We are just around the corner from that growth now, I am sure of it!
Senex provides detailed reports every quarter. One of these reports is highly likely to come out within the next 10 days. How much more frequently do you need information? If you just show a little patience and wait 10 days your questions will get answered. In the last quarterly report flow rates from the 30 wells at the WSGP were continuing to increase as expected and were averaging more than two terajoules per day. Looking at the production profile graph I would expect the wells to have averaged 3-4 terajoules per day over the April - June quarter. I believe it will be the next quarter where the increases really take off and we will be averaging 7-8 terajoules per day with more increases to follow.
The share price is still in its steady uptrend and as others have mentioned it's gaining roughly 50% per year. How people can begin to suggest that Senex is a dud is beyond me. Nobody is forcing you to own shares. If you are not happy feel free to offload your shares to people who will be very grateful that they are getting a bargain and let them enjoy the significant growth we will see in the share price over the next 3-5 years - possibly longer!
SXY Price at posting:
41.0¢ Sentiment: Buy Disclosure: Held
