Personally I think it's simply the poor sentiment in the oil...

Personally I think it's simply the poor sentiment in the oil sector over the last few months. Understandable since oil is technically in a bear market at the moment. Unfortunately when sentiment turns, logic gets thrown out the window. People see oil in a downtrend and they think sell oil stocks (or at the least don't buy them). As with any stock there will always be sellers for some reason or another, so if the buyers aren't there to absorb the stock it will naturally decline. I think basically it will again take a change in sentiment in the oil sector before we can move up substantially again. Either a sustained bottom or even more hopefully a sustained rise in the oil price. I think only then will the majority again start to look at the actual numbers and realise that even with the price of oil at this level AOK is substantially undervalued.