I have noticed that everyone associated with old mgmt or appointed by them have all left. In my opinion, this company's 'cost base' was too high for the size of the business and I think the new folk have addressed this.
Sure, if you are a long term holder of this company, you must have suffered a great deal, but the underlying businesses are still there and the oil price is very high.
Plus the new folk had the nous to join the Cooper Basin oil rush well before a lot of people cottoned on to this area in the last few months. The leverage of 12.5% to the 2 Cooper wells in March and April is at least twice the share price, naybe more if oil prices stay where they are.
And that leverage is going to attract specualtors pre drill, for sure. I think 0.8 prior to drilling is a given.
