Ann: MEL: Odin-1 gas discovery to be cased for production, page-10

Once Regal are gone it won't take long for this to return above 10c I believe.
I can recall a similar stock recently was being held down with great news coming from all fronts. They had millions and millions of options being converted for weeks leading up to their expiry. Within a 3-4 months the stock rose 360% before retracing.
(It was NVA back in August around 5c per share if anyone's curious)
At the moment the fundamentals here are strong and we have fundamental buyers soaking Regal up. Technical guys likely won't come in until they see 6.8c broken.
In the mean time, every positive announcement from VEN derisks the company further, and if you're happy to wait for Regal to quit selling then it should provide a good return over the next 6 months.