LNG release a positive announcement on BH and the shorters line up and sell this down from 67 cents to 51 cents. I wonder who the substantial holders were that parted with their shares?
Management have a lot of work to do, having seen a $2.5b company dwindle to around $0.25b in 9 months. They seem to be pulling out all of the wrong cards.
In my opinion, the market wants:
- FERC approval with BTAs for the remaining capacity
- timelines on delivery that can be relied upon
- development spend to continue
- new big investors to support LNG.
So far, we have seen nothing of the above.
Oil price up or down, it looks the Bears have set in. Ironic that it coincided with a Bear Head announcement.
