RE:Todays article - Resource Certification upcomingSo when should we expect an announcement saying that tpn will get farm in? by the 3Q or 4Q? now that the first half of the year is gone and no deal has been inked? I'm gonna guess the 4thQ
Mr. Bombvark made a very poignant statement, "the overall malaise of the macro (micro) oil and gas market" This is what has been killing the junior O&G's
Just look at AOI floundering at $ 6.50 - 7.50 and they're the ones that discovered all the oil! 3/4 discoveries in roughly 12 months and that stock is flat. (i own it too :(
Its a different market and a much different climate now, a $20 or 30 M farm out may not even see the price rise much more than a few pennies.
The market isn't paying off these area-plays any more. It wants results. Drilling or discovering, not JV'ing that probably should have been completed 6 months ago.
A farm in will help but as K1 said, look at SMB's $36 M deal and the stock is flat at a paltry 7 cents
VEL dead flat at 30 after their acquis.
Its a different environment out there folks, much different than a year ago.
glta