I was chatting with a retired O&G CEO and he says the geology here is superb, fantastic chance of finding oil.....I’ve topped up a few at this bargain basement price....
Nothing’s been staged, just delay tactics until licence expires, two wells needing workovers and no backing to drill more....enough turnover to keep the cats fat and the light on....
Even if the first drill is a duster, there will be 5 more after it.....this will be a traders paradise in the next 6 months....up...down....up....down....unless the mother-load hits and then it’ll be £2 a share...20 bagger from here....
at the moment for a company turning over 2.4m ? Yes the asset is valuable, but how to unlock it ? A placing wouldn’t surprise anybody as the banks must have said no.....