RE: Sitting on the fence27 Oct 2018 00:31
Doubler
The upside is producer 5k ish bpd, debt free fully funded drill program with large acreage position, 100% owned pipeline giving very good netbacks. The CPO 5 area operated by ONGC potentially has a lot of upside in next few months. Building cash by the day currently.
The downside is very poor sentiment due to self rewarding BOD despite falling SP, possibly large seller with axe to grind who allegedly would like to hurt company. History of over promising and underdelivering.
I’m long here and currently underwater as most holders are, new entrants at this level are likely to make good returns. 20p is a realistic target and there is potential for more. But another poorly received RNS could see us go further South. I’d be surprised to see sub 10p though. All in my own view, for what it’s worth. The company web page is good for laying out assets and plans. But which ones will happen is anyone’s guess!