RE: RE: RE: If I had to place a bet -Remember I said 9-12 months.
One might indeed have expected better for the SP with $80+ oil but we have just had dilution that must be absorbed.
The market knows that the 100 million bought deal is all about an exponential ramping up of production - now fully financed - but it takes time. They know we will have to wait for Q3 at the earliest - and most probably Q4 and Q1 2011 to actually see the tangible results of what is now only just underway.
Investors are fickle wanting quick returns - so look for other shorter term plays.
The SP needs a pullback and a breather to attract 'new' money.
RAJM made the observation a few posts back that there may well be some short term pullbacks over the coming months but the mid to long term outlook is golden - to which I agree.
It should also be noted that BNK is by no means alone in having its SP go 'soft' in this sector of late.
I stick by my prediction $13 + in 9-12 months.
GLA