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The company may be making money ( revenue) but is not making a profit. We’ve been through this before. That is why it’s taking on more debt in regards its loan book. How is this sustainable? It needs something to improve or it will just dribble away while becoming more indebted. $75 oil not enough for BLOE.
Needs to demonstrate it can produce at a profit
Production rising would help the SP if it can do so profitably otherwise it’ll need more loans.
Best keep fingers crossed for $120 / bbl. Even this management team should be able to make that work ..could happen I suppose
Arahim all previous placings have been lower than the then SP.
Folks are selling at 0.3 p today so it’s a bit fanciful to think next raise will be higher than 0.35. Anyways they need to extend the license again first or there’s nothing to raise on.
The RNS as I would interpret it suggests this well is not going to be a producer ( to much fracture related losses) but the test info may help future horizontals?? Not sure it can be interpreted any other way? So no additional production from this well.
How much cash is left in the kitty has to be the main concern.