Imo it is likely the US drop was more related to Friday's ann on the change to the ratio of the ADR's. Logically I would think the ratio shouldn't effect much as total shares on ASX haven't changed but there was already some uncertainty so may have influenced decisions.
Had the Oil price not dropped the production numbers now achieved plus the shut in wells would be delivering pretty good numbers however the price has dropped so how the company responds and adapts will be the test. Hopefully the upcoming quarterly will give some idea of cost structure and demonstrate how mgt have adapted and also some insight to likely costs in the low price environment.
GLTA
SSN Price at posting:
1.2¢ Sentiment: Hold Disclosure: Not Held
