I disagree that this has been oversold, I feel that it's an appropriate amount of sold considering that the commercial viability of Voyager is now in question. We know that more testing was done (ie 72 hour pressure shut-in), the results of which have not been announced, and reading between the lines, the subsequent decision to pause Voyager development doesn't bode well. The tone of the last announcement struck me as 'well Voyager was a failure but we've got enough money left over to drill a single well at Galactica/Pegasus'. I can't see how one well is going to be commercial and make effective use of the processing plant, so then they'll be shaking the can for more money, and that'll only be possible if they can demonstrate at that time that they drilled a producing well. So best case is large dilution at a terrible price.
BNL Price at posting:
0.8¢ Sentiment: Sell Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)