Until there are some sales and cash flowing back into the bank OIL will not venture far from these levels. I think the many years of announcements of partnerships and developments without any cash flow has made a lot of people cautious about this stock and even I just don't think the market has confidence in the company.
We need announcements and progress updates on MR Solutions soon, otherwise this will start to be viewed as another agreement that is not delivering and even knock more wind out of OIL's sails, I think the share price will slip to further lows until we get some positive news. It will be a steady fall down, but I think it will be a rapid rise if the right news is delivered within reasonable time.
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