Ann: UK Southern Gas Basin - Further Operational Update, page-25

"first announcement/interview in 12 months that hasn't sunk the SP further." Agreed. Tells me that the sellers are on the wane. About time too.
Market psychology is a very predicable thing, driven almost entirely by fear and greed. We are now getting to the back end of maximum fear, where crazy selling pushed the share price below cash backing and valued the project at zero. The next step will be some sort of normalisation, where I'd expect the market to value cash and project at $50-60 mill, before eventually, the inevitable "its going to the moon!" call.