perhaps the share price is being depressed by this news from Empyrean Energy, listed in London and a JV partner in Sugarloaf with Marathon....
Marathon have informed Empyrean that it intends to reduce its 2013 Sugarloaf drilling program by over 50% from 65 wells to 28 - see below. This suggests that the Sugarloaf region is not in the 'sweet spot' and Marathon may have written off large parts of this acreage as non-profitable.
http://www.empyreanenergy.com/news/2013/Operational%20Update%20260213.pdf
new ratings, page-3
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Last
94.0¢ |
Change
-0.005(0.53%) |
Mkt cap ! $451.8M | |||
| Open | High | Low | Value | Volume |
| 95.0¢ | 95.0¢ | 93.5¢ | $404.9K | 430.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 4600 | 94.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 94.5¢ | 30408 | 11 |
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| FFM (ASX) Chart |