Its a bit refreshing to hear the management taking some notice of the share price and how people feel about it. They have had a run of dud wells but a goodie in a dud country. Looks like they might be waking up to it being cheaper to buy an advanced producer in this market to grow, than do greenfields exploration. There is a price premium for being a bigger operation. The instos and funds can buy more of your stock because of the better liquidity. More demand leads to higher prices. Do I sense a slight improvement in sentiment? With oil at $120 bl and the other more locally based oilers cooking with gas, there seems to be some belated recognition of a change being needed. But if you sell out, they will no doubt strike it big soon after. Suspect the wells in Angola will prove productive. Just need to trick the local grafters over there. Isnt oil perverse. Magnetically attracted to bad places.
ROC Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
