Management can't change the geology. Mother nature will determine the fortune of May, not management.
From my own experience in another O&G company - and it wasn't that long ago - any way, at the time, we (shareholders) all thought Phoenix South-3 (PS 3) was a shoe-in; as the previous drill, PS2 gave such a severe kick that it almost caused a blow out.
But as it turned out, Dorado (another drill at the same time), brought home the black gold - and PS 3 gave next to nothing (was too tight).
One thing I have learnt over many years, is never assumed its a fait accompli and always expect the unexpected.
Nothing should be taken for granted until a proper flow test is conducted.
Sorry to hear about your situation, hope things turnaround.
Know the feeling and we have all been there.
Management can't change the geology. Mother nature will...
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Last
6.0¢ |
Change
0.003(5.26%) |
Mkt cap ! $195.4M | |||
| Open | High | Low | Value | Volume |
| 5.7¢ | 6.0¢ | 5.7¢ | $151.6K | 2.586M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 122315 | 5.9¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 6.0¢ | 303399 | 6 |
View Market Depth
| Last trade - 11.54am 03/06/2024 (20 minute delay) ? |
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Last
6.2¢ |
Change
0.003 ( 8.77 %) |
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| Open | High | Low | Volume | ||
| 5.8¢ | 6.2¢ | 5.8¢ | 1314488 | ||
| Last updated 12.17pm 03/06/2024 ? | |||||
| MAY (ASX) Chart |