That suggestion doesn't make much sense to me. With Mart selling its production at a premium to Brent, and US companies fracking in North America, how does an oversupply in the US affect the prices of Brent and the success story of Mart?
Overvalued in what sense? Cash flow, EV/EBITDA, BOE/D, reserves, what?
So all your 'friends' in 'the patch' just happened to own Mart shares during the multi-year rally, and now they've decided to sell their shares because of the supply glut in North America? And these folks in 'the patch', what makes them experts on investment valuation and market timing?
Might want to let them know that production from Umusadege can triple over the next 18 months. Is that why they sold?