Orion I tend to agree with your sentiments..AJQ appears...

Orion I tend to agree with your sentiments..AJQ appears undervalued.There appears to be
perhaps a number of reasons for that...difficult past, unstable corporate structure and
a clear inability to sell the story, and also debt.

While not an ideal comparison, Tamboran provides a few insights.This company's Permits means
it only operates in the N.T but is what I would consider an aggressive explorer..far more than AJQ
you only have to read the ASX Announcements..however their operating environment is more
expensive given that the company operates/specialises with unconventional plays [fraccing].

In summary, given the lesser amount of shares on issue and the fact that TBN has no turnover
but a plus in no debt....it still seems to me that given the far more expansive yet under utilised
portfolio of AJQ etc...the current share price should be closer to around 3c.

Remember also the Enterprise well has the potential to be a company maker. I would have
thought that a company also with the potential of discovering an asset that has the potential to
deliver around 30 mill cft/day [AJQ share] in gas flow income should be worth more than 0.005c/share!

Interesting price dynamics here..!

Cheers