In international markets today. Taking Syria and Ukraine into account and Obama has put Russia second after ebola as a threat, we're not doing too bad. Global scenarios are our problem, most instigated by the US.
Interesting isn't it how undervalued ZOL currently is? They bought the Bortovoy license for $180 million, it's had a markup in value following a fair value appraisal of $35 million (so this single asset is $215 Million) and the value of the company is $203 Million?
So discounting the huge potential of the Koltogor prospect the company is trading at way below it's asset value, let alone any future prospects, go figure!
The half yearly report today should catch the eye IMHO, highlights below......GL S
· Maiden revenues for Zoltav of US$1.6 million from 13 days' production from Bortovoy Licence
· Operating loss US$6.7 million (H12013: US$2.3 million)
· Cash resources and undrawn facilities at 30 June 2014 were $21.3 million
Symon Drake-Brockman, Executive Chairman, said:
"The first half of 2014 saw a significant corporate milestone in the recording of Zoltav's first revenues from 13 days of gas and oil production.
"With the acquisition of the Bortovoy Licence now complete, our focus there is on operations and in particular on ensuring that the Western Gas Plant is operating at full capacity; while concurrently developing an appraisal strategy for the highly prospective eastern fields. At Koltogor, the work programme which was completed during the period under review has resulted in the prospect that the licences are substantially larger assets than previously envisaged."
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