RE: Buyer17 Oct 2019 08:51
Expecting a TR1 soon, this is massively oversold off the back of recent news and ii selling -
A key aspect is that that the failed drill was in an area where they have no booked reserves and are not currently producing. The entire 400mmboe+ reserves relate to the north east and west areas where they are producing.
We have over 100 million cash on the balance sheet, a 2 billion asset base. Take over was being discussed as an option when this was above 50p so if anything is happening on this front it will likely be above the 100p mark given these discussions were taken place due to poor sp for shareholders. A year ago this was over 200p, yes theres debt but that easily services with the level of cash we have and the money already being generated here.
Expecting this to continue to bounce and close the week between 50-70p. GL