Andy, I would guess the drop in the share price is a combination of ENT in a state of limbo, with no drilling activity, waiting for lease grants, wide price spread and minimal shares in the buy side, plus many other speculator stocks and resource producers looking a lot more interesting, so a few will sell out at cheap prices to chase the action elsewhere, plus the fact that ENT is low on cash, and needs to find something attractive before another raising is needed, otherwise the raising may need to take place in the mid to low teens.
The flipside is, if they do uncover something good in the more prospective planned targets for this year, the upside will be good. I'm going to hold on to my stock to see what they uncover, but of course as with any speculator, holding the stock comes with risk.
Add to My Watchlist
What is My Watchlist?
