still flying under the radar..., page-10

kingferrous, I agree Austex could definitely do more work to get the name out there. I feel they are avoiding the expenses of unnecessarily causing early hype, which could just create bubbles and permanently damage confidence in Austex.

In regards to their initial listing, I'm sure you are well aware of the issues of the time but I will recap for other readers. Their timing was unfortunate in many regards, including during the worst of the GFC and also while oil prices were plummeting - both factors that have great bearing upon a junior oil company's share price.

Not only were they subject to the collapsing oil price, all their spending in 2008 was on anything but oil production. This rose concern in the market, investors worried that Austex would merely burn all its cash before it was even set up. This all led to a low of 5 cents for Austex.

However, the competence of Austex's management was exemplified through completing all start-up infrastructures with no debt and $5 million cash left over. We are gradually seeing the share price build back up as confidence is realised in Austex.

All being members here, you have surely heard the recent success stories of PEK and AVB - they too showed similar activity for years until the last few weeks. I was fortunate enough to have a small holding in AVB and I believe Austex's time will come.