Opinions on market reaction to the news release I only have one reasonable explanation as to why bengal is now trading into the 0.50's. (Looks like it'll open at 0.55 if Level 2 does not change.
The results of the Cuisinier drilling were, as expected, great. 4/4 and all with potential production levels that are comparable to their best wells. Yet, 55 cents???
Although I believe it to be a stupid phenomenon, could the negative traction on the share price simply be due to the "Sell in May" "strategy"?
Other factors(which we already were privy to):
- Slow development of Tookoonooka (drilling one year away - 2015H1)
- Drilling delays in onshore India play
- The recent MD&A mentioned the potential for financing. Is this really a cause for concern? (This is unrelated to the news release, but has always stuck at the back of my mind)
Opinions please, and thx in advance.
Shat-