Massive media push over the past 3/4months, big promises, new institutional investors and loan agreements... just no drilling permits or farm-in partners for Badile. Add to that large volumes of re-instated cheap gas from Africa and the Italian authorities ability to slow everything down is resulting in shareholder impatience, the SP will drop.
Also, check Maquireis (spelling :/) Badile handout, and compare the cost of drilling the Badile programme to the NPV10 reserve forecast - the ratio isn't the best (still good, but there are cheaper options on the market elsewhere).
I will go back in if the market cap is sub £35million-ish.
i guess it depends on how much they think they can pull from the rest of the production string. If they hit anywhere near 200bpd I will be happy as it was the target, anything below that I am not too bothered only as long as over time the production pays back the cost of the well including inflation.
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