Agree leverage, I was lazy to use the term macro economics when I should have said declining oil price / oil supply glut / market wide negative sentiment towards the oil sector / double negative market wide sentiment towards US shale oil in particular due to comparably high production costs.
My point being that forces beyond SSNs control have been dictating the SP and will continue to do so in the near term. As you well know, the SP of these small spec stocks rarely reflects true value (it usually grossly overvalues them). SSN is, in my opinion, currently grossly undervalued, but I don't believe the share price will reflect true value until they have the runs on the board in terms of actual, not future, production; and a positive shift occurs in the extraneous forces mentioned above.
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However, i reiterate that none of this has any bearing on the operational performance of SSN, which at present I feel is solid.
With regard to the LTIP, my concerns are a separate issue to the ones mentioned above. I guess I just feel its poor form to be making claim for any kind of incentives at a time when the company is barely breaking even and is only just starting to show a glimmer of potentially being self-sustaining in the medium term.
SSN Price at posting:
1.6¢ Sentiment: Hold Disclosure: Held
