RNS - Cavendish Note on Texas15 Dec 2023 09:10
From the note, only 313%, yes please...
Upside comes from 10 low-risk development drilling opportunities, with potential identified in multiple zones. Including the acreage acquired in July 2023, five workovers are to be completed in H1/24, and are expected to increase production to 180-220boepd. On completion of the workover programme, the JV will consider drilling two new production wells in H2/24, which are expected to increase production by a further 160-200boepd. We reiterate our target price of 1.0p, implying 313% potential upside from the current share price.