This whole process has been annoying to say the least!With the...

This whole process has been annoying to say the least!

With the bid for AUT and strong rally in the oil price SEA should have seen a significant rally over the past few weeks, however given the likely fall in price on Monday the stock will be down YTD and really will not have done anything over the past 12 month despite the significantly improved fundamentals over the past 12 months.

At the end of the day, what has really changed in terms of fundamentals between SEA on Friday v Monday? Nothing! Sure the drilling won't be ramped up now, but neither will there be a dilutive raising and the drill program is already aggressive.

I do think Eric has done a fantastic job over the past few years and while the IPO is disappointing Monday will likely prove a great buying opportunity and eventually either the market will value SEA appropriately or as AUT illustrates a corporate buyer will.

SEA should be trading $1.50+.