There's nothing holding the SP up at all - because buyers are very reluctant. No matter how low the SP has come down (35% in 7 days)there is no interest from buyers. They can see that it's probably going lower and they are going to wait.
The SP is well below the price that New Hope was happy to pick up millions. In the absence of any positive announcements expect more of the same.
One day DTE will come good. They have great assets and experience in developing them. There must be some doubt regarding their announcements of discussions with potential farm in partners. These guys have a poor record with negotiations. They only managed to get Shell to come up 5% on their initial lowball offer for AOE and have previously had serious discussions for Dart that came to nothing just like their abortive secondary listing efforts.
New Hope is the wild card - they may be satisfied with ~20% or they might want more BUT they are cheapskates and are not going pay more than bargain prices.
Of course
DTE Price at posting:
10.5¢ Sentiment: None Disclosure: Held
