strong buying on the close

Well there's a sight you don't see all that often: buyers jostling for large lines of stock on the close. It was like bankers elbowing for the last line of coke at a stock-broker's Xmas party - only far more dignified.

Perhaps AMU's fundamentals are assuming more prominence now that the capital raising is out of the way. It's hard to imagine the raising attracting massive backing given the low share price for much of the intervening period, but at least those who took up their allocation would be feeling gratified by today's close.

I didn't take up any because I am still angry at the massive discount to market price offered. I didn't sell any though either, despite seeing the share price decimated by what I consider to be an ill-judged action by management. I held for that very old-fashioned reason: fundamentals.

This oiler has approx. 2000 BOPD in stable jurisdictions (the U.S.). It has one of the lowest P/E ratios you will see on a profitable oil company. It has relatively few shares on offer and a very low market cap for its earnings. It is also attractively placed if U.S. natural gas prices begin their traditional ascent for the Northern winter.

All in all, I can see us back at 40 cents by December (where we were, briefly, before management up-ended the apple cart!) should the POO remain around current levels. While the SP has a long way to go before my anger and frustration dissipates, strong closes like today's are a welcome first step.

I hold. DYOR.

Regards

Gupper