"so, is it just me or is anyone else here baffled as to how 88e market cap is $96 million and oel is lucky to be $37 million..."
Imo, because there's no ASX announcement that explains to shareholders why the firm 3 well drilling plan for 2015/16 was cancelled.
Also, no info out there as to why GB didnt re enter Alkaid or drill the appraisal Phecda-1 well which were scheduled for late 2015.
Obviously the market has worked it out for itself, but the lack of disclosure adds to the negativity, imo.
Ann: Drilling Commences at SM-6 well in Gulf of Mexico, page-24
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