A lot of traders/investors don't look at the announcements, but...

A lot of traders/investors don't look at the announcements, but instead rely on web reporting portals that report P/E ratio etc.
Unfortunately a lot these are out of date sometimes by 6 months almost all ignoring the quarterly's.
.
SHE earnings dropped recently mainly because there were large cash outgoings into new wells reducing the earnings. In reality today the Earnings are fantastic as are SHE future prospects.
.
So i blame out of date web portals. Look at what some of them report for earnings.
So if people filter on earnings or P/E ratio they will complete miss Stonehorse energy.
.
After the next 6 monthly reports more web portals should correctly report SHE earnings and maybe see some changes then.
.
Also SHE is so undervalued that some people don't believe it.
.
SHE needs a catalyst such as Dividends. ATP recently was significantly undervalued ( not as much as SHE though) and on their first dividends they rose in value a few 100%. Had one brought 6 months earlier you would have made a 400%.
.
SHE is at a negative enterprise value of $-102,000 AUD.
.
There is also a chicken and egg situation,
SHE is small cap and small caps have lower P/E ratios . In SHE Case it’s around zero which is absurd really.
Also OIL and GAS P/E ratios have fallen since the price of oil temporarily went negative a few years back. The lower P/E reflects increased risk associated with Oil price volatility.
.
SHE on average Trades at its current liquid assets value. So this year if they are going to accumulate cash causing its Market cap to rise on the assumption it follows its current liquid assets value. If they don’t accumulate cash it’s probably because they are investing in new wells that will bring the BOE/Day target closer and also the dividend date.