Ann: Currajong 1 Exploration Well - Operations Update, page-110

Reality check.

The company had a belief that there was the possibility of oil in a target, they drilled and reported that they detected hydrocarbons and H2.

They state that so far it fits their expectations and will carry out tests.....

Market reacts badly, or ignores.

Sellers dump millions at 13c.

Seems to me that a few things are at play.

First is that people unrealistically expected a gusher, in Australia!

Second is that the more realistic of us thought the ASX release was a bit downbeat.

Third most of the nation is in lockdown and is accordingly not into risky and unpopular stocks. (any carbon related given the fires in Europe etc)

Fourth, even though we should see the glass half full, nobody here is buying, I assume.

So we know the company is moving to drill the "bigger" prospect, so we know we have a rig, so we know to date the interpretation of seismic has not been wrong, so we know ORG is footing the bill according to the BRU strategy....

Why so glum chum?