RNE 0.00% 0.2¢ renu energy limited

tp, page-6

  1. 154 Posts.
    Drilling for Habanero 2 began on the 9th July 2004, at which point the sp rose in a few weeks from $1.00 to around a $1.40 (i.e 40%).
    It stayed around this level for around 3 months, until on the 4th October it was reported that granite fractures had been reached.
    In the following week the sp jumped to $1.60 (14%) where it stayed until the drilling dramas were announced on the 18th October.
    Some of us (I plead guilty) were expecting similar enthusiastic price action with Habanero 3, but obviously the wider economic uncertainty has made investors much more cautious.
 
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