doing well!, page-3

This is a stock to buy on a dip and hold for 6 to 12 months. Good assets but some doubts about cash flow. Last years good profit followed by a first half loss which was in part attributable to lower oil and gas prices over the period. Hopefully they have turned that around in the first half of this year. But as Whitey says activity in Souther Bonaparte gulf could really excite the market. News that DLS runnign 2d seismic over these leases seems to have been reason for recent price rise. Company not very good at selling itself and has long been regarded pretty much as a dog by the market. While price has risen recently volumes have been piddling. NTA around 9 cents plus. I hold. JBC