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30p back in Feb this year and 50p last Sept.
Now 6p with the seller below threshold limits coupled with company assets on the turn around.
Will be adding the morning
Is this the most under valued oily on LSE.
Surely buyers are circling
Slift,
"What do you think?"
I think we were writing at the same time ! See my (slightly later) post.
Hi adoubleuk,
"'Optimizing' output from the current two producers ... may take a bit more time than pre-CV19 economic meltdown"
Surely, with the ESPs commissioned, the optimisation will not take long. The ESPs minimise the interference between the two wells. I suppose the "optimisation" woud be the optimum flow rate that provides stabilisation and most manageable water cut?
This optimisation will likely be completed by at the next update when they provide a stabilised production rate.
What do you think?
Would love to see Andy Austin of RRE replace the CEO. He must be due a new challenge...
Haggis_trap,
The EPS just needs to generate enough data to prove Lancaster / fractured basement works then someone with deeper pockets can drill more holes.
There's no longer any question about whether Lancaster / FB 'works'. It does. Qed. 'Optimizing' output from the current two producers, establishing a corporate strategy balancing revenue against further drilling costs, bond repayment, etcetera, may take a bit more time than pre-CV19 economic meltdown, however. Imho.
"
It is crazy isn't it. £150 million in bank plus £100 million a year in revenue. Yet entire company valued at £120 million.
For sure there are question marks over the reservoir : however outcome is unlikely to be binary. The EPS just needs to generate enough data to prove Lancaster / fractured basement works then someone with deeper pockets can drill more holes.
How is this valued at £125M???
The seller has created opportunity and they're now under detectable limits. Once finished can see 10p coming very quickly indeed