As I told you; sp was depressed as a result of the delist that came around the time of the board appointments that sparked the shareholders revolt. Delisting does that. These are now in a very oversold state as a result of that, but when the value and potential are realised then the sp should go way above.
There is a lot of value here. The market lost interest after the shareholder revolt and the delisting, and when it relisted, a lot of people got out, sending the price far below the value. It could take some time to get to the sp anywhere near the value + the potential, However, when it does, the target sp is very good.
Agree. CPR on NBM would value the asset at more than the current mkt cap of the company on it's own- reserves about 8-10m barrels. So basically the cash, XXI $10m carry, Z34 $100m+ carry and Rosa Blanca are worth zero (in talks about a deal- farmout or sale?).
Production comes from three wells on Nancy and Burdine fields and top end is about 700bopd. They have a fluctuating flow on Nancy which and a few technical things to resolve on Burdine that have potential to flow higher. I would guess a major part of the plan is to drill Nancy 2 which could yield 1,000bopd as Nanncy 1 well is on the edge of the main reservoir. I believe NBM has very good potential and GOO now hold 100% of the license with good reserves in place and exploration upside.
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