Anyone considering buying CNE at anywhere near tonight`s closing price (1461p -64p), should take a close look at several recent newcomers to the same Sector; compare prices & charts etc & ask themselves why almost all the others have been rising strongly, whilst CNE is going down.

Might the penny have finally begun to drop, among some of the more savvy holders, that the CNE SP has been seriously over-hyped to unsustainable levels, when all aspects of its operations are viewed more realistically in the cold light of day?

I am of course, fully up to speed on CNE`s Indian discoveries & their projected values over the course of time, but in my opinion IMO), with the current known level of reserves, the present share price CANNOT BE JUSTIFIED and the Company is certainly not FTSE material. In all the cicumstances, I fully expect the Company to fall out of the FTSE at its next Quarterly Review, unless it is able to announce at least one, preferably two, MAJOR NEW discoveries in the meantime.

Again IMO, now that the SP has turned down, the chart is looking very unheathy. With so many folks (& Institutions) now sitting on very large profits in CNE, many will be unable to avoid the temptation to sell, thus taking their (in many cases very substantial profits. I think it fair to assume that most will choose to re-invest in much more attractive plays elsewhere in the OIL & GAS sector.

It is my guess that this has already started, and when this happens in such circumstances, it inevitably leads to other holders following their example; causing a self-perpetuating and continuing fall until a more sustainable SP is reached, when it is likely to pause for breath whilst it waits for news of more new discoveries and/or increased production, profits etc. (all IMO).

Also (IMO) in an uncanny way, it is all rather like the current situation in the residential home market, now that values and prices are finally showing serious signs of weakness and going into reverse!

Presently, (IMO) this market is also seriously overvalued, owing to so many of the participants (including many of the so called professionals/experts) failing to understand basic economics and the effect of market forces.

Time will be my judge, but I fully expect these prophecies to be borne out.

I sold CNE
SIA could be the next CNE