I won't speak for others,but given the greens stated goal of no new coal,oil,or gas projects being approved(despite the utter lunacy of that position),I have to seriously re-evaluate the prospects of microcap oil ang gas explorers that are prospecting in australia. Whether such an outcome is likely,I am unsure,but I am always reminded of the Gideon Tucker quote: "No man's life, liberty, or property are safe while the legislature is in session." The price action I am seeing on GLV and PRM(which is now trading under the issue price of the major share placement) is not something I can remember seeing in my north of 20 years playing microcap O&G.To be tanking into the drill,makes me wonder if I'm not the only one who has decided to be more risk averse given that even if successful,development may not happen unless/until the lunatics are no longer running the asylum.
GLV Price at posting:
2.3¢ Sentiment: None Disclosure: Held
