Member Info for 1nvest

Share price was already around 4-5p when news of 90% depletion of reserves was announced. Yes the day before it was just over 5.5 but that was in anticipation of good news coming out. With those reserves and drilling could have easily seen 40p plus share price! The share price had already reduced considerably and therefore only fell by 50% on the update. There is potential of doubling your money and more in the medium to long term at these prices but until new exploration is started or new deals done I cannot foresee a market valuation of 400m. Would love to be proved wrong ??

I'm really curious on how we get to double figure share price based upon current production. At present the amount of oil produced is enough to cover costs with a profit. The profit is not enough to cover further exploration but should cover the loan interest costs of doing so. This is what I am interested in the medium term. We cannot look to long term as currently less than 2 years production based upon reserves established. Overall a good company but this is a long term play unless some company wants to purchase to offset their profits with hurricanes losses.

Share price has taken a battering over the past few months due to drop in oil price, producing from 1 well only (water cut, and other well interfering with production) and massive reduction in reserves resulting in lower return on investment. Basically an exploration company again and therefore don't get sucked into people saying this share price will fly until some positive new exploration news. News today wasnt positive just an update showing reality of situation. One I will be holding in hope there will be positive news in the future.