RE: CPR22 Jan 2022 12:12
I am staying focused on how much more profitable Wressle could become with future drills from more proppant squeezes in the Pennystones and Wingfield Flag formations. The project can only become much more profitable as Brent Oil price will continue to rise over the next few years. The Pennystone Flags are the jewell in the crown. Union Jack will be banking multi, multi millions of pounds once we crack those open.
I look forward to hearing the news from our operator Egdon on further drills, who I must say have done a fantastic job. Also I understand that the site has only been shut in for a very limited time which again, is an incredible achievement with all of the works completed and of course maximises profitability for all partners.
Listening to Simon Oddie's interview was enlightening and I support using some of the profits that David is banking here for further drills at Wressle and else where . That makes perfect sense to me. I would also like to see some share buy backs an/or dividends at some point in the future.
Many Oil companies are hugely undervalued at the moment but once the realisation sinks in that energy companies like us are so profitable I am sure retail investors and institutions will have us on their radar again and want it, especially with an asset like Wressle.
Not forgetting our other assets Biscathorpe, West Newton , Keddington, Fiskerton, North Kelsey and our cheeky little Royalty.
Good luck to all shareholders. Very exciting times.