Cant fault your perspective ACE But for sure Repsol will come back for the deeper levels sometime..........this location or AN other. I guess $20M has something to do with it for now. The RR mystery will never be revealed I am sure .......just too embarrassing for someone.
Is easily a short term target here as we head towards the drill date. We are at a 5 year low now so we should have a nice bounce from here.
And tower are fully funded for the Kenya drill. If you research taipan resources who own the lion share you see they have a great track record of hydrocarbon discovery. Value of Kenya block 2b 15% of 1,500,000,000 mmboe = 225,000,000 mmboe x $7 per barrel = $1,500,000,000 Divide by shares in issue 3,600,000,000 = $0.416c or £0.24p Assume 25% recoverable = share price of 6p (conservative) Purely based on Kenya, not accounting for any other asset.
Things will start moving soon and we will start getting updates. There have been several large purchases today and yesterday and it looks to me as if confidence is returning here. We are trading at a 5 year low currently. I don't expect that to last! This is now heavily oversold and due a bounce probably up to the 2p level as we move forward.
We expect much activity in the coming months on and in the areas surrounding our assets. In South Africa we await the new 3-D on our Algoa-Gamtoos block and Total is scheduled to be drilling its Brulpadda-1 well on the adjacent block shortly. Planning for our year-end Badada-1 well on Block 2B onshore Kenya is underway and regional activity is rising. Our projects in Zambia, SW Orange Basin SA, Cameroon, Ethiopia and elsewhere are gaining momentum."
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