It was only about 5 weeks ago that the Reese#2 well went into production (17th April announcement- click on announcements at the top of the TTE page). So I think people need to keep that in mind. You can't expect announcements every week on new drillings being started etc.
Aussie dollar down another cent against the US dollar this morning (hovering around 97 cents). Brent crude between $102 and $103.
Another 9 days and we will be into June. So realistic to expect announcements on new drillings in June, I think.
Can't say I am overjoyed about the current sp - but in the long run, it will sort itself out. Although, having said that, a famous economist also said that in the long run, we are all dead! So 'long run' is relative, I guess.
Interesting to read the ASX article put out this week that said half a million shareholders have deserted the share market in the two year period between 2010 and 2012. I would bet that has increased even fast in the last 12 months, based on how small cap share prices everywhere seem to have dropped like a lead balloon). People are not mugs - they can see the market is manipulated by the 'big boys', with their HFT computer systems, their 'dirty tricks' (like selling one share in TTE just to make sure the sp closes down - check last Friday as an example), the 'dark pool' trading away from the spotlight and rules of the 'lit' market etc.etc.etc.
Govts need to take control of the Banks and big Brokers, imo, and bring the western share markets back to addressing fundamentals, not short term trading on nothing more than a swing (up or down) in the sp.
Time to end this, or I will be here all day. Coffee awaits. All the above is my personal opinion. DYOR.
GEV Price at posting:
11.0¢ Sentiment: LT Buy Disclosure: Held
