Cavendish Research, page-7

Tbh, I think that investors in small caps at the moment are pretty gun shy . Add to that, there is a general nervousness over the oil price at the moment , which although not directly connected to our story, does weigh on the sector. Overlaid on all of that is the fact that time lines are being stretched waiting for FDP and financing and confirmation of the export route, leading to boredom/frustration selling etc.

there is no doubt that the 4 main risks still exist, (pre construction, drilling and gas price at the point of production). Those are FDP, FID, financing and export route. Once we tick those off, (and possibly we get some new leases), we have to re rate upwards. The gap between $35 mill val and $290 mill is too big to remain so once we have these items sorted.