We haver a situation here similar to the Eagle situation a while back, a dull SP performance, and awaiting a workover rig.
The trends on AIM O&G stocks these days are so predictable, usually weeks on end of lackluster SP performances and then, on news, massive movements. No consideration is taken at all on companies projects or potential longer term values.
In short its labouriously depressing watching MM's chip away daily at the SP. However when the workover rig was announced at Eagle the SP rose 10p on news and the speculators pushed the SP into a new trading range. IMO this will happen again at Sugarloaf but the rise will be more spectacular bec hot money will enter looking for the big result.
In the meantime we have Margarita ongoing and should start to get regular updates hopefully to fillip the SP as well.
The short term picture and SP is irrelevant for the longer term player. Patience is required and EME will eventually deliver the goods from one of its 4 ongoing projects. Thats all it takes to move this into the £1 bracket.
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