I also have an outsized position here and am disappointed that...

I also have an outsized position here and am disappointed that we have gone nowhere since the placement despite oil now over US$100. The large caps all released great results and are justifiably the safest way to benefit from the oil price.

I think the market is waiting to see management deliver a couple strong quarter before buying into the narrative. The most recent quarter disappointed in terms of production and cashflow. OCF will be strong this half but capex is also high in getting the new wells drilled, so from a FCFF perspective we're only going to be drowning in cash once the new wells are drilled. Second half of the year will make or break this company imho, if management can execute on the current plan, and POO holds at current level or goes higher then I firmly believe the SP will 2-3x from here in quick order. Key downside risk is in getting the new wells drilled in a timely manner.