Asx is a tough market for small energy stocks - even those with great assets. I also own TMK energy that has a coal seam gas wells currently pumping in Mongolia but has lost 65% since its jv partner talon was lost when strike energy acquired talon .
asset hasn't changed. Wells are all paid for. Again it is future funding risk that has killed the price. another called Hartshead Resources has a gas asset off the uk with a JV partner fully funding costs to production and with $30mil in the bank but has still found its share price sliding south for months
maybe directly approaching energy companies rather than mum and dad investors is smarter as they understand the underlying assets better.
strange to think the company potentially worth north of $40 mil and with a cash balance of $7.5m only gets an asx value of $3.5M.
BME Price at posting:
0.9¢ Sentiment: Hold Disclosure: Held
