R15, if market is telling us that a company producing around 180 boed with over $2m cash is worth $5m then there are some seriously overvalued peers in for some pain if oil price does not recover quickly. An alternative to the negativity would be to use what knowledge we have and use it to identify opportunities for when things pick up. This downturn was thoroughly predictable many months ago and most others oilers have suffered worse than here. The volume has been very low so imo very little insight gained from watching the SP but that just me and I am happy with where things are at.
Cheers
Ann: Appendix 3B and 3Y, page-5
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