Hi Giddyup(now there's a moniker with forward momentum), I note...

Hi Giddyup

(now there's a moniker with forward momentum), I note that John Campbell, in his latest excellent Oil and Gas Weekly newsletter, found himself 'wondering what [AMU] has to do to get the market to take notice.' I agree with his sentiments wholeheartedly.

With AMU's production due to rise to around 2,400 BOEPD shortly as the Longville wells come on stream and with around 14.5 mboe in 2P reserves, Amadeus will have approximately half Carnarvon's daily production but (even after CVN's recent falls)a market cap of just $68m compared to Carnarvon's $475m. That has CVN valued around 7 times AMU for double the production. And it's not as if AMU's wells are in decline either. The low-risk ones which under-pin production have around a 20 year life on current estimates.

I'm not intending to disparage CVN in any way as it's a stock I have held on several occasions and continue to rate as amongst the most promising in the mid-tier oil sector. I think both are terrific, well-managed companies, but believe AMU is comparatively under-valued on what it has. The P/E ratio of 2.6 relative to a sector average of around 15 says it all. Virtually every other oil junior has enjoyed significant price appreciation in recent weeks while AMU - vastly more deserving - has languished, just as it has re-opened its shut-in wells and boosted production.

Never mind. I am prepared to be patient.

Good luck today. DYOR.

Gupper.