I agree with you Thymus. The US meltdown has caused a whole lotta negative downturn in our Aussie market. In fact more of an over reactive negative response sell down in Australia, than needed to happen.
IMP is a classic case of market fear ...imagining problems that are not there.
The current financial state of IMP is very healthy and its future looks bright ...being in Natural Gas, which is becoming more and more of a sought after cheap energy.
So, there has been a ridiculously low sell out of shares based on fear and foolish traders who have bought shares on margin loans.
Nevertheless the upside from here ...along with some nice profitable day trading looks good for IMP ...especially when the 30 September report comes out and they also begin the next 13 wells in this current program.
IMP Price at posting:
13.5¢ Sentiment: Hold Disclosure: Held
