re: gas down thk well down thk is in a severe downtrend.
the last big 25% drop from 40c to 30c coincides with a release from escrow of a lot of shares. it is apparent that the holders of these shares, who we can assume know more abou the company than the wider market, want to exit. we have seen them gradually eroding the buy depth.
as soon as buyers step up new sell orders appear. this pattern has been occuring for weeks.
it also doesnt help that the henry hub spot price for gas is very low at $6. its dropped from $15 6 months ago. with the cost of wellhead development and horizontal drilling being very high it must not be very enticing to operate at these levels. maybe this is why things are being kept "behind pipe". plus there are heaps of new operators entering nearby shales which will keep supply high and prices down.
the company keeps making positive assertions about the future and the shareprice keeps falling. im out at a big loss, but i cant see things picking up in the near term.
im piling my moeny into aza for the impending resource upgrade. hopefully recover some of my loss.
thoughts?
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