Could be a couple reasons for the sell off this morning. I think its fair to say most investors had seen gas growth and jumped the gun before seeing where it actually came from. If they are having issues with pressure already at this current TJ output, how are they expected to grow the system further to 35 or 40 TJ without further pressure issues and subsequently effecting the QPME wells that are producing.
This was not included in one of the "challenges" that they presented just recently, so definitely an area of concern.
The operating loss was already priced in, but they've essentially burnt the cap raise funds and I can't exactly place a finger on what. Working capital for property/plant/equipment and the operating loss they took?
Definitely reduced confidence going forward, even if I am bullish towards gas/electricity prices. Not being provided reasons to buy at this point
QPM Price at posting:
3.2¢ Sentiment: Hold Disclosure: Held
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