Seems like they are almost in denial (still). "Initially good...

Seems like they are almost in denial (still). "Initially good flow rates" etc etc but no real mention of what happened next other than improving the technology may help. Hardly inspiring to any potential new investors.

I really think that explaining the situation in more detail during the flow testing period may have kept the share price higher. They basically said nothing and then released a statement saying the flow rates were crap without any real explanation. The share price was always going to get throttled. Giving a more detailed explanation after the "horse had bolted" didn't quite cut it with me and I have told them as much.

So now we wait to see what kind of a deal they can manage to get some help in. Any potential suitors that are (or were) interested can now get in for next to nothing. It is just a matter of how much cash they are prepared to put in and at what price?

So where does that leave ordinary shareholders? I cannot see a farm-in being at a premium so the share price is likely to remain depressed until new wells are completed or they can resurrect the current ones and that all takes time. Don't get me wrong, it could all work out extremely well at some stage. The first step is getting some clarity on where things are heading.................