RE: RE: Share price27 Aug 2019 17:45
Sea7- agree but sentiment will not change until this company delivers or gives sone news either way. At the moment the market views this as any other company on aim which over promises and under delivers, which effectively what Block have done with their 1100 barrel hype back in April. They also said the minimum they could produce was 700 bopd a day to keep the well in good shape, but again they are no even delivering half of this. 4-5p does not look unrealistic at the moment. Also people keep saying this is undervalued because we have£12m in the bank. Again they are wrong since that £12m is being used to keep the lights on until the company generated any money. At the moment there are productionn & transport cost, storage cost, initial well drilling cost, overhead cost all of which are currently being funded by that £12m. Don’t forget the 295 bopd are not being converted to cash yet.