approx $100m worth of potential reserves have been identified in the Texas assets, thats enough reason for me to stick around. Debt is now at very acceptable low levels. Drilling success rate is very high.
There's 3 reasons why it may be worth hanging around... not to mention it is still undervalued and i also hope that they may appoint a new MD now that the sales process is concluded, if they know whats good for them they will appoint someone with a strong O & G profile and a decent following. If they can achieve this it may (imo) be the catalyst for a change of sentiment and a fresh look
AMU Price at posting:
24.0¢ Sentiment: Buy Disclosure: Held