The next 4 weeks is critical. If last years news flow is followed (refer to photo below) will get
- Quarterly report next week (could surprise us with good WSGP well run rates, but not holding my breath)
- Reserve upgrades next week (should be a positive news given Atlas reserves).
- July drilling report due early Aug (not expecting much, but it could surprise)
- F19 outlook by 2nd week of August - This will inform us of the F19 capex budget (i.e. how many wells and where). - I see this as a positive - the larger the capex the larger the jump in earnings we can expect (subject to financing - if this is somehow finalised too, it could be an early xmas).
I do think the lack of news flow /uncertainty has been priced in to the current share price, so any positive surprises could lead to some price action.
On this basis I am changing my sentiment to buy and may well look to pick up some.
I hope the analysts on the call with ID do probe him for some answers, in case he tries to avoid updating us on any of the above....
