a very attractive speculative buy, page-34

i don't blame your line of questioning, in the past year i also noticed that it seemed to drag behind the ASX sentiment on the upside yet follow on the down. On the other hand, it has held up well when the market has been falling.

I think a few things may be at play:

Lack of knowledge and understanding of the stock.

There seems to be no recognition of the Joint venture in Vietnam nor Paloma's prospects. I think this isn't helped by managements under promise over performance style. Although i'm not arguing against this style.

Impressing the market

As i think T-shirt said not long ago, in a bull market the news flow that has come nens way would of shot the SP up over $1. In this market nothing seems to impress. I think most are waiting for Vietnam drilling in hopes for a rock the boat style discovery.


My opinion, patience is key. Management have delivered at every step, Paloma seems undervalued, and Vietnam is blue sky. This forgoes mentioning currently producing assets and the ability to achieve goals without going to the market for capital. I would like to see how many other risk/reward junior oilers have these combos.