HELL OF A STORY I HAVE READ HERE ON THIS SHARE. I am holder or follower of this company, but have shares in 3 other O/G companies.
I know the pit falls with O/G and its important to have reliable feed back from the board. one part of buying shares is to know the company potential, the other is know the management. and more so have trust in them. Seems from reading here you are right to feel disappointed with this action or lack of action from the company.
seems some one there will have to explain this.
But i look for this style of action a 75% drop in one day. But if it was due just to a duster i would buy in now at 7 cents. But as its related to a lack of confidence in the management i feel more down side is in front of this share. till the company makes a statement of its future program and cash position.
I hold shares in a small oiler that just listed 7 month ago. it has a good management that keeps the market up to date on info.Has secured great holdings and has great seismic results to date . share price has been up to 110% of its ipo. and is now 100% of its ipo.
the point is that the faith in the management and its operational explanations are an important tool to traders.
It seems you have been mislead. I am sad as people invest their cash in good faith to at least get correct news. I know o/g are spec buys, but you did not have the chance to sell... based on you were fed up beat news that was not true.
NEN Price at posting:
7.0¢ Sentiment: None Disclosure: Not Held
