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Very relevant when the business could double free cash flow and profits at the current rate of increase. Gas prices will just continue to rise and so will our profits. The seller has presented a great opportunity to buy at 50-70% discount to fair value.
The market has well and truly gone crazy. Market cap now ONLY 20m absolutely bonkers. CEO himself feels fair value is 6p. I think we are being softened up for a low ball takeover at 6p, still 233% premium to current price.
The Sancrai-1 exploration well will be suspended pending further technical studies to better understand the Sancrai structure and evaluate the options available, given the high total gas readings during drilling.
Continuous formation gas shows were recorded over 20 metres of gross pay over four sand intervals from the measured depths of 855 metres to 875 metres. At this drilling interval the measured total gas ranged from 5.5% to 11.1% with an estimated average porosity of between 23% and 27%. Open-hole petrophysical analysis undertaken during the drilling operations further confirmed this gas-bearing Pliocene sand zone.
https://www.***************************/serinus-energy-transformative-sancrai---1-well-gas-discovery-interview/4121010295