"The crashing silence from Shiloh Oil about its intentions in Thibaw is starting to un-nerve some investors," says an article by Editor Steve Bradshawe in today's edition of the subscription-only newsletter "Investor Chronicle".
"Shiloh has had a string of bad news recently," says "first the string of dry wells in Thibaw, then news of a confrontation with the notoriously sensitive government of Thibaw over allegged corruption issues and rumours that Shiloh is going to leave Thibaw permanently. If it leaves Thibaw where else will it go? It needs successes soon."
Shiloh's price has slid slowly and gently recently, indicating a gradual loss of confidence by investors who are unloading stock. It closed yesterday at 6.73.
"It still is a company with great potential," says Bradshawe, "and even if it has drilled dusters in Thibaw it has accumulated experience that others don't have about how to operate in that difficult country. That's got to be worth something - something like a foundation for seeking more acreage in thibaw."
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