I think it is pretty obvious why the SP has dropped - all O & G stocks are in a similar situation.
The company is already buying distressed assets at cheap prices - eg 3 months payback, but what they don't need is too much debt right now, and they are managing this aspect well atm. Great to see the NT assets in focus and it was a pleasant surprise to read the commentary in the Half Yearly re planning for Marcellus.
I'll be buying the rights and probably topping up a bit more as IMO there will be SP growth on one or more positive announcements coming our way soon.
GLTH
Ann: Capital Raising - Updated Issue Price, page-8
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