You never know your co-holders financial position so it is possible that someone has to sell along with traders deciding enough is enough .
INP management have done shareholders no favours either, imo . They said the new wells would be producing to a moderate degree months ago (last year in fact) . They stuffed up the admnistrative paperwork which they should understand well . They or companies linked to them sold shares months ago . Announcements lack layman information, so despite the recent drills being evaluation and production wells, traders and laymen had no idea what was going on until known and expected oil is announced. thnk many thought they were wildcat wells . And where is an independent evaluation ?
What are the management doing ? They can't blame nature forever .
Light sweet crude oil is present en masse and the market cap for INP is reducing every day despite that, so value is getting ever more attractive . I do feel these prces are an anomoly, but just like HDR was hit hard before they were taken over I feel huge oil reserves like INP's will will be taken over . I suspect the way management have performed lately and how their guidance has failed, a takeover will be likely .
INP equity stake in produceable oil is likely to be well above 25 million barrels . I am holding for that reason .
INP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
