No idea mate - I think the jury is out for 2015. 2016 will be the year that makes or breaks this stock (if it's not already broken!) once we have much more information. I'm waiting on the lab results and 3D seismic myself - in it for the long term here. I believe that this stock will be worth something one day, it's just a question of when. It will be months before we have a 3D seismic to expose conventional potential, or before we know the unconventional potential of the HRZ resource, the viability of which will depend on the oil price returning to former glory and then some (which it inevitably will when the Saudis stop playing around). It's all timing and waiting for us unfortunately, and a lot of it!
My non professional advice: if you are a long termer and have invested what you CAN afford to lose, check the share price daily (maybe once at open and once at close), ignore the red, don't make emotional decisions about rational choices, and see this one through to the end. I believe you'll be rewarded one day.
What we are experiencing in the now are the short termers jumping ship and purported long termers who are being scared away or making their own Christmas margin calls (aka investing what they can't afford to lose, or what their husbands/wives tell them not to!), who either expected a significant discovery to be announced recently and it wasn't, or got scared off by their own interpretation of the drilling updates, which have been vague at best and now somewhat contradictory.
Either way it's a massive overreaction to "nothing" news. The SP is trading lower than it was before they starting drilling the well, and drilling hasn't even finished nor has data analysis which was the purpose of the well. Nothing truly negative has really been said - everything is on track as planned. Most humans are flighters and not fighters - in the absence of positive news, we'll revert to the safety of pessimism to escape our fears and save our tails, which is why the SP is where it is. The only other thing I can think of is a Mr Heman style theory, where malevolence is at play and the price is purposely being driven down by some unknown force. I'd love to think it was being driven down for the sake of a cheap takeover, but the news/announcements don't reflect that. They tend to support plain old investor uncertainty in this stock.
In summation, I think that long termers here will be rewarded one day and the short termers will be penalised with their realised losses.
If you are a true long termer for 88E, you need to remember what kind of company you are investing in here and for how long. This is an Australian based company, a transparent one with solid financial backing and good, regular communication to shareholders. They employ experienced professionals. We have a CEO who is doing his job for us; loyalty to shareholders is clearly there and they have been truthful about the project every step of the way. They're doing all the right things as a company. As far as I'm concerned, this is all they owe us and from a long term investment view, this is a good company to own stock in. I feel sure that if there is oil down there to make money from, then this company will find it - their jobs depend on it too. The rest is simply our own gamble on the oil thing. That's the bottom line of investing in this share. It's a gamble on a gamble. This is this the share market and nothing is a certainty, so if you can't afford to lose all that you've invested, then you may want to join the rest of the flighters.
But for me...I'm going to stay and fight with ol' mate 88E. Til the bitter end comrades!
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