Not sure about director buys, historically there have been very few EXI director buys. The annual results show they have slashed management overhead and it would appear management are there to follow the major shareholders plan for the company. Of more concern is the lack of institutional investors and the small free float. This is common in most Russian stocks, particular when you have major shareholders who basically control the company. If the drilling goes well this year and the oil price… Read More
From March 2016: According to the calculations of Exillon WS, the amount of MET subject to refund for 9 months of 2015 may amount to RUR 2,314 mln, which amounts to circa $ 30 mln per the exchange rate set by the Central Bank of the Russian Federation for the date hereof.
$12.2 million to drill 17 producers, one appraisal and one exploratory in 2015. So in 2016 28 wells will maybe cost $22 million dollars all things being equal, just $10 million more. With a netback of $22 per barrel or more for 80% of ESW throughout 2016 we could be approaching a situation of having more cash than the current market cap. Valuing 500 million 2P reserves and hundreds of millions of dollars worth of infrastructure at zero. 2015 also included a one of $10 million plane purchase… Read More
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