Overall, I very positive announcement. The recent price fall can only be accounted for by a very large bankruptcy/capital raising discount being factored in by the market. The company has demonstrated it will survive AND without dilution...so a correction is on the cards. After all, we are now a $38million company, with cash flow, sizable 2P reserves and 7000PJ and > GIP...i think a few people who buy now will look back and thank their lucky stars for the GFC.
Will hopefully start drifting up as the risk adverse move slowly back in dribbles. The big kick will come from the quarterly showing the numbers add up...other than that, seems like a year of consolidation in the making...while many in the same market cap category will go out of business or get taken out.
Overall, I found the announcement extremely reassuring...and management are doing exactly what i would want them to do in this situation.
EPG Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held
