The main issue is finding a good broker to force up the share...

The main issue is finding a good broker to force up the share price, which is something IMP hasn't manage to achieve for the last 18 months. The stock is too small for them to cover. Not sure why Macquarie won't cover it, but I guess they are making too much money out of the loans and hedging to worry too much...

Sorry to sound so cynical, but I held this stock for a long time and have heard the same stories over and over again.

My worries about the change of focus wasn't so much to do with the move into oil, which I agree could provide some upside with a bit of luck. It was more to do with the scoping of assets in Australia and Sth America that the CEO was talking about at the AGM.

The story was all about the 385,000 acres of Marcellus and Utica shale they acquired in 2009 and that is valued at zero in the books. With the $4,000 an acre price tag they achieved for the Pennsylvania shale they sold to repay the bridge in 2010, the upside was clear to see. But the brokers still wouldn't cover it then. Now that this acreage will actually be worth zero for some time, the story has moved to oil, but I just don't see this as the same value proposition as it was. I hope they do find some oil though and that you guys do well from your investment - the CEO got himself a pretty good salary last year without much equity on the line, so I hope he is keeping this going for the right reasons...