paris valley , page-5

hi steak,
these days I am selling, before and after I post here.

I donot know what's wrong with you, and what's wrong with my post. with oil price falling, I continue to reduce my holding. Now light oil is $34.5/b, SAE should stop its production otherwise it's a net loss business.

I also note the low performance of its newly drilled well.
I also note the daily production is still less than 1000b with a bit downtrend.

when oil is USD$80/b, SAE's net asset is A$36 million. 15c/share. If the price of light oil failling to $20--30 range, then heavy oil could be only $15/b.

Sae has only less than 6 million in hand. I really feel the high risk.

Paris valley was a abandoned oil field before, when oil price was at current level, so it can not help much but can speed cash burning.

So I advise to avoid or sell. Unless oil price back uptrend, sae will be bearlish in short term.