The SP now well under last CR price of 9c, market does not like uncertainty and the TAM 1 drilling and much more importantly the way it has been communicated to the market has been very poor indeed.
The flow rates from this well were to be company defining but as I write this I get the impression thru the lack of transparency that its 'let's see what happens with Tam2&3 shall we'.
This impression while obviously not factual is the market's perception at this stage, and it equates to an increasing degree of uncertainty.
All O&G minnows live with uncertainty but its the direction of such that has marked down this stock.
When a drill is greeted with minimal and superficially vague information it is worse than "flow rates are suffering because we stuffed up', much worse,
Have lightened my holding to small investment parcel only and hopefully will buy more @ 12 to 15c on the up with more transparency,
r
RLE Price at posting:
8.0¢ Sentiment: None Disclosure: Held
