Or more likely it left the market behind by sandbagging its shareholders right after the AGM.
Down by 10% since then.
And other oilers?
Well OEL announces a $3 million sale of assets in Turkey and its share zoom up.
AUT - a cap raising and the shares up by almost 40% from the cap raising price in a few days and now has to be the most expensive oiler on 3P BOE/market cap basis on the entire planet let alone Australia......probably about A$11 per boe now. Up over 2.5 times since SSN sold its land.
ETE....hey they sold and entire 1000 barrels of oil and announced a reserve report and the share are up from a recent low of 9.7 cents to 13.5 cents today.
SEA??
Well when SSN sold its land SEA was putting along at 14 cents a share. It is now 74.5 cents (Yes I sold it and put money into SSN - big mistake!!). Why? A steady stream of news and reports.
To equal that SSN would have to be just under 20 cents a share instead of under 6 cents at 5.8.
And let's see.........
AZZ - well its going down the same path as SSN or maybe I should say, it has never moved off the path from years ago. No information and not even a peep about closing a huge total sale with a value of some $150 million or whatever ..... we don't know as the company hasn't told us. Shares actually down about 30% since SSN sold its land.
TXN is now 61 cents up about 50% since SSN sold its land...
Even ELK is up about 20% and managed to pull the wool over many eyes since then.
And poor SSN and its shareholders pull in US$75 million cash plus and ORRI only to see the market cap go up less than half of value of the cash it rec's that after the sale.
Announces a good well and the shares fall.........
