Share price today fell to 52 week low of 17.5cents. Market doom and gloom on all stocks. I have topped up my holding today at 18c, hoping it proves good in hindsight. F4 flow rates + F5 success and good flow rates will help. Then the 18 month drilling program. When SM58 is done there is of course EI77 which not long ago was the highest valued prospect. Lots of potential for this little company.
Risks: Oil price stays low for long, F4 or F5 are not very fruitful, other drills dont produce anything.. the usual risks with all oil explorers.
But hoping we're on a winner here, in 18 months I hope we are well above today;s price of 18cents
Ann: SM 71 F4 Completed and F5 Commences, page-9
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