The oil business is certainly a sector spurned by investors.
I wonder how low the P/E has to get before anyone takes any notice .
Buy straw hats in winter and fur coats in summer.
They have written their PNG assets right down but in a different economic climate they could be worth a lot.
Investment in oil and gas is drying up and may turn the obvious present over supply into an undersupply quicker than expected
Ann: Quarterly Activities Report, page-5
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