Bottomed out 40% ago which is what it has returned since last week.
The big rally will come it she breaks though 80 cents then she really will have broken the bottom dwelling.
Interestingly the trading over last few days feels like someone big is building a position. With $1b (based on a small $10 per barrel valuation) of proven reserves this cold be a corporate buyer given enterprise value is $220m. Reality is corporate buyer should be happy to pay north of $10 a barrel so it will be hard to convince me to sell without a big number n front of it....
FDM Price at posting:
71.5¢ Sentiment: None Disclosure: Held
