Dexter, fair comments. But you have to understand that your comments come from a different perspective [i.e. an educated and knowledgeable idea on oil/gas drilling]. Most investors or traders have no inclination of the release of the announcement.
Indeed, there is a possibility of gas but you must admit that even the management's tone of the release does not bode well for the future of this well. I have been in much too many investments to not be too overly emotional to the stock and to invest accordingly.
There will be a re-rating to this stock to the 16-18cps level before Talisman's drilling ensues in the next few months. But the fact is that we have used up funds for the drilling thus far. Hopefully we get some gas out [or even strike some oil] to add some positive value to the bottom line.
Mediocre news in the current climate is going to push share prices down. I am afraid that the current environment deals with a short term timeframe.
NGE Price at posting:
15.5¢ Sentiment: ST Sell Disclosure: Held
