bargain entry, page-3

MJS, I think the operational maintainable net cash flow is quite a bit more than $25m/annum, but will analyse further when the quarterly is out. I have posted numerous times that at the AGM in october, they were saying operational net monthly cash flow was $2.5mUS, and this must have risen since then given the rise in US$ oil and gas. So, you are correct I believe - at $100m market cap, this makes little sense, unless you thoguht oil and gas prices were going to collapse, and I have not heard any commentators saying that.

I have been watching the trading carefully and I am certain that this relentless selling is margin call related. Fact is, the Directors have been buying (notices last few days) and the drilling is positive etc etc, so my conclusion is that is what we are looking at. I have been buying a few as I see this as very cheap also.