RE: Another large late-posted buy...16 Sep 2020 18:14
Those who panic sold on Thursday will say all sorts of rubbish. The fact is this is at £4m market cap today with £1.7m of cash and 3 huge licences in UK, peru and Timor.
Big European player is interested in the UK asset and news due about end of month;
"UK - Inner Moray Firth, Offshore Licence P2478 - Baron 15% interest
Further to the update made in our 2020 AGM statement, Corallian Energy Limited, the Operator of Licence P2478 which contains the large Dunrobin and smaller Golspie prospects, has informed the Joint Venture that the original seismic field data necessary to perform specialised reprocessing has recently been located and copied and is now being validated. Once this has been checked and loaded, reprocessing work will be able to take place. The initial Exclusivity period of the Work Sharing and Confidentiality Agreement, which was signed with a large European exploration and production company in April 2020, currently expires at the end of September 2020 and we look forward to receiving the results of the studies undertaken in due course.