Not often you get the opportunity to load on such quality news like that.
This seller who must now be on fumes has given all the buyers this last six weeks a gift.
Eddie bought at 0.87 FFS.
Look what we have achieved since then.
Of the last 12 months holding RNSs.
Cannot see how anyone left who I cannot account for could now have any serious level of stock.
Whatever has been holding us back is about to break.
Then some real value of 1p+ should be achieved here in the short term.
This is a �50m+ mcap stock in 2018 with little downside risk.
Buy hold and add more.
Quite obvious we have the right business model here and importantly at the right point of the crude oil price curve.
We do though have a seller, that is the only thing that is holding us back and has been the case now for weeks.
The only thing I can suggest is the seller seems to find his base around id 0.7's and opportunity to buy stock presents itself at that level.
At some stage that stock will run dry and we will move on rapidly.
The company is very active at the moment and I expect we are now in a rich period of news across all their assets and investments.
So it is a case of jump on board now or wait till it's clear the sellers gone and pay 0.2p more. One thing for sure is I do not expect they will ever be much cheaper than the buying point you can achieve today.
Remarkable low costs;
Forrest Hills 100 bopd x $57net back X 365 = $2,080,500
Stockdale 37 bopd x $48 net back X 365 = $648,240.
$2,728,740 net revenues per annum NOW.
That is just the start.
Expect that model to be rolled out 4 X by year end.
�9m mcap????????
People need to see that this is merely phase 1 or the end of the beginning/proof of concept.
That business model brings on flowing barrels at less than $1000 per barrel cost.
It's ultra low risk and ultra low costs.
The team know what they are doing and have a solid foundation to spring multiples of the same off again for months and years to come.
WTI is rising.
Production will only increase.
Revenues increasing.
Well leases will increase.
Newsflow will increase.
This company will be a cash cow.
Buy hold and reap the rewards.
I get the figures to around $2.5m per annum net to Mayan profit (obviously not including PLC costs).
That's now.
Expect 4x and more by end of year.
Not including AR or Stockdale gas in that either.
Most of aligns targets had WTI at $20 lower than today. That’s significant. Almost gives you double the profit/netbacks than at the point of forecast. So yes slower in action but a well built structure needs solid foundations.
I look at NTOG that’s likely to also have a great 2018 and their well cost is $400-500k to bring 40-50bopd on and they are likely to achieve 3-4 max in the year.
We could easily do 5x that even at this pace now the foundations are in place at 1/10 the cost.
This is a true no brainer with oil pushing over $70. Iran sanctions likely could push that much much higher.
Great time to be holding what I think could be the AIM stock of 2018.
WTI @ $70.40. If the Iran sanctions return we could see $75-80.
Are costs could be sub $25 to produce.
$50 netback per barrel would be on the cards then. Let’s hope production is sustained and the business model that will propel this to a £60m company within the year is proven.
Surely not long to wait now.
Superb post.
For example NTOG is considered to be performing well and a lot of 'bloggers' etc seem to like their model.
That model involves drilling new wells at $450k per well that produce similar to ours that cost 1/10 of that, they also have more risk attached.
We have done six in six months they have done one, by the time they get to well 2 completion we will have over a dozen online.
This business model is special.
Sad day, Labrat has been banned.
All posts he's made and posts connected to them removed.
Upside I would be careful, Leapfrogs hopped off, Ratty run down his hole, upside could be seeing downside soon.....