Still a hangover from having to digest a 1 for 3 rights issue during which a 20% holding was dumped on the Market at below the rights issue price .
I bought plenty at 2.2 and 2.3 and my full allocation plus nearly 100% of my allocation from the short fall pool.
So while I see that the present SP is imo undervalued I cannot buy anymore .
Maybe a few others in the same boat .
We have all heard it before but we just have to be patient for a while and hope that the catalysts come on schedule and are as good as we hope for.
Our JV partner's SP is in the doldrums too and I think it could be in part at least due to what is going on with our share price .
We have key projects in common and a lot of investors interested in investing in VEN would look at MEL to help them evaluate the value of VEN .
So I think that a movement up in MEL would also help move VEN up .
MEL has had 2 exploration wells and 2 appraisal wells drilled in a row that have been successful .
Just how successful we will begin to find out very soon .
VEN has had the same 4 successful wells plus another that could be a very long life earner producing CO2 .
Neither business should have a SP less than the SP before that run of good fortune started.
There is no longer any talk of drilling Cervantes this calendar year .
I always thought that was very unlikely .
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