the company has clearly encountered a serious oil find in Cambay. Its also obvious that this is to be subject to ongoing testing over the next month with this new work over rig coming on site. Another new well is also about to spud in Cambay and Oman is about to start again as well. the current weakness in the share price is based on small volume and not news related. the stock can do this on small volume but i am convinced the stock price will have a significant positive change about to take place based on the ongoing oil program. I also note a lot of negative feed back on the $3.40 valuation. Do this at your own peril imo. the recent focus on the share price will look like old news in due course and its to short term focused. Its very easy to state the obvious about the current share price, but that's hardly news. I think oex will have a valuation well north of $5 by the end of the year which really makes this a standout. A lot of companies don't close the value gap unless they either get taken over or the valuation keeps climbing. As warren buffet has said.. 'if the market was efficient, i would be broke'. dyor.
OEX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
