price if no commercial oil flow28 Aug 2020 10:46
pboo has been called all sorts of names for daring to break up the twitter/lse pump crew - (obc,ast,ser) fame. Shareholders obliterated there. Have said before i've never seen such an organised pump like this. pr nights, a team of blaggers all predicting fanciful figures and targets. Be very aware of who and whats going on - they have form!
Anyhow I've done some calcs as to what will, sorry might happen if/when the oil doesnt flow. I say sub cash which is what 0.03p now? The price now at 42 million pounds market cap is pricing in flowing commercial oil - 1000s barrels a day of it. Has to flow 1000s a day as UJO only holds about a 1/7th of the field (asset).
Also a further dilution will come if they need to keep lights on if/when no commercial flow or if they were to go into production - lol.
REMEMBER. The 'majors' are never interested in these bits of 5h17 - this is why AIM trash oilers are allowed to pick up these 'assets?' for peanuts and then start the merry dance (ramp). We've seen it time and time again over the years. XEL was a classic. OIP was always there - it wasn't their discovery. In the end they burnt through 100s millions pounds, Shareholders WIPED OUT and the 'assets' are still there - in the ground... Do you get the picture?
AIM is about 'assets' 'potential' 'pr nights' 'cash calls' and often when certain names involved, in the end action groups..
Good luck. Let the roulette spin.
I welcome the '1p target crew' figures as to what flows they think will warrant a near £200 million pounds market cap by the way. I will read without a mug of coffee in hand.