perhaps the share price is being depressed by this news from Empyrean Energy, listed in London and a JV partner in Sugarloaf with Marathon....
Marathon have informed Empyrean that it intends to reduce its 2013 Sugarloaf drilling program by over 50% from 65 wells to 28 - see below. This suggests that the Sugarloaf region is not in the 'sweet spot' and Marathon may have written off large parts of this acreage as non-profitable.
http://www.empyreanenergy.com/news/2013/Operational%20Update%20260213.pdf
new ratings, page-3
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Last
81.0¢ |
Change
-0.030(3.57%) |
Mkt cap ! $389.3M | |||
| Open | High | Low | Value | Volume |
| 79.0¢ | 82.0¢ | 79.0¢ | $1.444M | 1.788M |
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| No. | Vol. | Price($) |
|---|---|---|
| 4 | 78805 | 80.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 82.0¢ | 36496 | 1 |
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