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Put this into perspective here. This is no duster, this company is not a speculative Explorer anymore in remote parts of the world. We are a Producer in a stable democracy that needs oil - reserves are estimated to be high and flow rates are good in an area that is and has produced before!! Patience is required and a robust update is needed as this should be a lot higher in terms of SP, so i will continue to add to my 40 million in the knowledge that this will deliver over the next 6 months and i think that it how long you will need to hold this. I am in this industry as an MD - if i was MD of this company i would be excited!!!!!
Share to be in - selling oil in the next 7-10 days (if not already) and at this very low MCAP - we are Producers not an Exploration Company and the SP should reflect that, but if people want to sell on cusp of commercialization then that is for them....
Agree the weak have sold (again!!) This should be over 0.18 today on the back of that news - what has happened - a well is taking longer to clean and commercialize - big deal happens all the time. They have oil guys - they have an illustrative flow rate announced and now we just need to be patient - the best news I have heard is the reserves - this is not a risky play anymore - get in now whilst you still can and hold for a couple of weeks for 250bopd - that will be a great start with greater riches when electric pump is used Q1....hardly rocket science is it - this has been derisked and at this MCAP there is a load of opportunity to back a winner.