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Tcf, at the time of drilling the stock was heavily loaded with speculators who knew that there was a decent chance of hitting gas. What happened though is they all had the same intention and that was to sell out on good news and before TD. Hence the sp was going no where and was sold down heavily. i.e it was overbought at the time of drilling. They have made their money and are now gone which is good thing.

Given success in P#3 and subsequent wells (based on previous working knowlegde of exisiting wells and surrounding producing fields) I'm pretty sure you'll now see a slow and steady climb to its real value. It will take time though but worth holding imo. I still think the options will be out of the money come expiry and probably the reason why you are so down on the stock.