The delay has helped to kill the SP - though in this market even companies such as Beach with great production and oil/cash reserves are being punished to a mere fraction of fair price so what hope would BUR have anyway!
The recovery will come - maybe over 15c as a first leg up to 20c if Marlin 2 is half-way reasonable.
I hold too many to consider selling down at this price given the underlying value in the company at gas prices which have become absurd - over double projects prices giving BUR 3-4 times increased profit margins. Heading into the US autumn shortly certainly isn't going to hurt gas prices either as gas follows oil into the predicted gas boom of 2009/10. We could see $20/MMBtu within 12 months and some huge profit numbers from BUR.
BUR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
