I own it and have owned it since 2010 late or early 2011 when there were only 163 million shares outstanding and 800 boepd. Fast forward years of great appreciation because managment was always well ahead of the curve. Today , because of the damage done by the Greedy ME and the collapse of oil prices and companies like sea.ax need to drill in order to survive We now hav around 1.3 billion shares. Truly shocking! This stock can still move but it is harder not impossible but it is all about the price of crude and of course we must deal with the horrible pricing of the AU dollar. Shareholders have been hurt by dilution, AU dollar and the price of crude. So today we sit @.20 AU. Tough to run when we have zillions and zillions of shares outstanding.. The ADR is very helpful because it trades legally in the US as SNDE- and continues to sport a premium to the US gray market and the "go know where" SEA because we have 1.3 billions shares or more. The only real way to get
this moving is a reverse split if Oil price remain strong.. We must get rid of the endless paper that haunts the actual potential of SEA.
Also in really it should not even trad in AU because all operations are in the US and in dollars. This stock would be dramatically higher. It is like the tail that wags the head.
We remain bullish towards further appreciation but it going to be slow going because AU are huge flippers. Great little company , but always has huge head winds
I own it and have owned it since 2010 late or early 2011 when...
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