RE: Ready for the MM's to play games again to support EEENF?21 Jan 2022 13:05
1- Appraisal well NOT exploratory
2- 9.5 billion shares tightly held
3- North Slope Alaska has +++ good oil
4-Merlin-2 targeting 652 million barrels of oil(1,2) in the highly prospective N18, N19 and N20 targets that were encountered in the successful Merlin-1 well (drilled in March 2021 to a depth of 5,267 feet). Merlin-1 demonstrated the presence of oil in these multiple stacked sequences within the Brookian Nanushuk Formation.
5- Traded in Australia, UK, USA, Germany
6-Undervalued considering target prize.
7- Oil price 2020 March/ April was -$37 per barrel, now +$80 a barrel.
The impact of the COVID-19 pandemic hammered the oil industry in 2020, forcing U.S. oil prices to go negative for the first time on record. In a matter of hours on April 20, the May 2020 contract futures price for West Texas Intermediate (WTI) plummeted from $18 a barrel to around -$37 a barrel.