Confidence is going to be low when the company's first well didn't go smoothly and there are delays sorting it out. I've seen companies have their first or company making wells go badly like this and then make comebacks (ADI rings a bell), and others where it has gone to the dogs. Unfortunately the dogs outnumber the others. I suppose that's why the market isn't confident.
I don't really know what to expect. I'd say I think the risk vs. reward looks good, but I'm biased. Either way my fingers are crossed.
TPD Price at posting:
4.0¢ Sentiment: None Disclosure: Held