fibonacci retrace 61.8% sp fall to $0.41 , page-43

Fair post Tony. One of the few objective posts I have read here in recent times. I don't think you need to get so wound up, as always, only time will ultimately justify one's view.

There has been a lot of hot money made from the likes of QGC, SHG, RPM, PES, etc. So naturally, these are hot money which are obviously bullish on CSG stocks and are hunting for the next potential t/o target. I had flagged them as a possible target from a loooong time back, but even t/o target needs to be set at a realistic pricing. The way VPE and BOW has been trading, it would seem that people believe that the likes of BG or Shell would be ok to pay any price in their acquisition trail. These guys didn't become supermajors by being generous. They have made their share of howlers, but over the long term, it'd be foolish to assume that they'd pay any price for the asset they are after. No matter how you tweak the numbers, VPE (with 20mn cash, some 90PJ (3P) and 1.2MBO (2P) of reserves) do NOT justify a markat cap of 145mn.

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