FoC - i can see plenty of blue sky in this one, but also see a fair amount of resistance to technology. I do believe it is the untested nature of tight gas in Australia that is keeping more conservative players away.
That said, I could well imagine there are plenty of people with an interest in gas who may be keeping an eye on it if it proves itself further.
I can understand people selling at 3. this stock has risen some 30-50% over the last couple of months - not a bad return if you could accumulate enough on the rather low volumes.
Also, the last "major" announcement precipitated a big drop, even though the news wasn't that bad. Again, to me, this further indicates a lack of understanding and reticence about tight gas. I'm certainly concerned about that sort of reaction in the near future - makes it particulary difficult to "read" what is more probable regarding price movements...
Whilst I'm always on the look out for a good move, I hold this one because I think the risk/reward proposition is very attractive and the stock is undervalued. Always a good time to get on board - if you turn out to be right!
just my opinion...
TSV Price at posting:
3.0¢ Sentiment: Buy Disclosure: Held
