How long can Michael Evans stay in his job given the stock has gone nowhere since he has been leading? I looked back at their announcements since 2004 and what do you find, old Mickey Evans spruiking the same story. When does the Board force a change.
If you don't agree take a look at a 5 year chart. He managed to extract nothing out of an oil price spike and is currently managing to do the same here (but he did raise $34m 6 months ago). Hmmm, it's getting pretty tiresome knowing the company is in a quality region but sitting on assets for years doing absolutely nothing. Drill a hole, give something to the drillers. Ever heard of the saying "a bird in the hand is worth two in the bush". I couldn't care less if our stake of the 1bn+ barrells is only 10%. It's still worth more than the current value of the company and you give up some of the cost risk associated with drilling.
As one of my colleagues says, it's a crab pot stock. Gets everyone in and most never get out.
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50.5¢ |
Change
0.010(2.02%) |
Mkt cap ! $46.66M |
Open | High | Low | Value | Volume |
49.5¢ | 51.0¢ | 49.5¢ | $75.27K | 147.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 9967 | 50.5¢ |
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Price($) | Vol. | No. |
---|---|---|
51.0¢ | 7286 | 1 |
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No. | Vol. | Price($) |
---|---|---|
1 | 9967 | 0.505 |
1 | 3967 | 0.500 |
3 | 16894 | 0.495 |
1 | 5000 | 0.490 |
2 | 20618 | 0.485 |
Price($) | Vol. | No. |
---|---|---|
0.510 | 7286 | 1 |
0.520 | 200000 | 3 |
0.525 | 19005 | 2 |
0.530 | 101005 | 2 |
0.550 | 27285 | 2 |
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