fibonacci retrace 61.8% sp fall to $0.41 , page-34

"The share price might have hit $2 back in 2006"

Not in my recollection. The best I am aware this got to was 6.2 cents back in Oct 2004. 10:1 equivalent of 62 cents.

The best it achieved in 2006 was 3.6 cents. 10:1 equivalent of 36 cents.

Funny thing is, they were touting over $1 on a single wild cat well coming in then. Their AR and conference presentations were, and still are, full of wishful thinking. The expectations evaporate with time and reality and the market treats it accordingly.

Sorry, the leopard has not changed its spots.

PK