Well, the capital raising has really dragged this one down and...

Well, the capital raising has really dragged this one down and that sort of negative sentiment can be pretty hard to shift. It's a crying shame as this downward spiral was eminently foreseeable - as I pointed out to Geoff Towner when the first massive raising was announced. Despite venting some spleen I saw no point in fighting it once the announcement had been made simply because any whiff of division between shareholders tends to just decimate the SP even further. And that is exactly what has happened.

The irony is that the SP destruction is occurring just when natural gas prices in the U.S. have begun to lift and several of AMU's shut-in wells have returned to production.

All in all, with the changes to the management team now in place, production on the rise and debt on the decline, I think this is the dark hour before the dawn. I don't know of any other producing junior trading at such a ludicrous P/E ratio. That AMU is doing just that highlights the disgust that stale holders feel towards the old management that let us all down.

I'm going to sit out this turmoil rather than sell at these fire-sale prices. If I wasn't so disenchanted with management, I'd even average down since AMU will have around 2200 BOEPD in the near term and the debt burden that has dogged the stock is entirely manageable from production.

I look forward to the upswing in oil and gas prices that the northern hemisphere winter should bring.

DYOR

Gupper