realistic market cap, page-12

Doubt they will trade much lower, risk is to the upside.

The last time they traded down, shale gas ex USA was not as intensly looked at as today.UK and other European countries have decided that fracking is safe and have opened up to exploration. In South Africa ,the government has come out in support of it and Chevron has entered the fray.

With possibly the 8th largest shale gas reserves in the world , and companies like Sasol publically declaring they want to farm in , its hard to see how Cel can be valued so low even at at this level let alone lower. Cel,as Dott correctly points out is in the best possible geographical position with a well that has actually flowed unassisted gas when Soekor was looking for oil long b4 fracking technology was invented.

If you get spooked by a few hundred thousand shares being sold down ,you should get out as the the share will trade up and down as it consolidates.T he news flow over the next few months will be extremely supportive , so good luck getting back in.