After a quick perusal two things come to mind. 1/ They are considering drilling two wells back to back this quarter. 2/ Admin expenses were over $6k for every working day of the 3 month period. For a "two bob" company thats waaaaay too high! (Are you reading this Barry???)
Checking out the proposed drilling while no firm date was announced it appears they will be drilling this quarter since they are expecting to spend $4M (presumably not for admin expenses!!!) this quarter although some of this is for previous drilling. Over 2 million OIP gone through so far today indicating very strong support in the low teens on a monster down day. With one or possibly two company making wells due in the next two months perhaps its not surprising.
OIP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
