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If they show decent flow rates at C37 proving operational success then this will be transformative for the share price. The decision to purchase own drilling rig and team could prove to be a master stroke.
Extract from below (not wishing to be ramptastic)
Management have assumed the lowest historical flow from wells, i.e. a minimum production increase of
15 barrels per day per workover (whereas they have historically been up to 33 per day), and an increase in
approximately 450 barrels per day from new wells (whereas management claims that similar wells in the same
area have been producing up to 3,000 barrels per day).
That's because at £1.35 you could both buy and sell at the same figure...very strange! With a broker target of £4.95 and an unrisked target of over £20 per share I'm not worried at all by this fall back....Institutions loading up then they will let it go.
I also believe that this will be a great deal for all holders if you see that AAAM (or AFF should I say). We are targeting 4BT of Iron Ore at Nkout 100% owned and in recent podcast potential of 5BT at Putu 38.5% owned. This alone would put us at a 1 Billion market cap company forgetting the gold.