RE: Market cap value23 Jan 2022 04:25
“My SP estimate is £11”
"Delusional."
Ok Devilbhoy perhaps it is a bit delusional to start thinking of £11, or even £20 or £30 as a SP I'll agree with that BUT, I could also say it's delusional of you to think that this won't substantially re-rate to reflect the sheer scale of the asset we have at some point in the near future? And when I mean substantial I am being conservative by saying that this has 10 bagger written all over it which would be around £3.50 from current levels.
There will be a few catalysts along the way to make that happen and in particular the publication when it comes of the Scott Ryder CPR.
In my view this should very soon have a higher Mcap than 88e which is built upon a lot of hype - something we are lacking - for now, but sentiment and tangible news will drive this forward. It doesn't matter which way you cut it, it's impossible to ignore the 1.5 - 1.9 Bn barrels along with the fact we already have a drilled well that has intercepted several sands -
"Light crude oil was discovered in stratigraphic traps in the Upper Cretaceous Frontier Fm. 1 and 2 sands and the Lower Cretaceous Dakota Fm. sands. Mapping of the reservoirs on regional trends has shown the discovery to be extensive, with the Company estimating the combined reservoir volume to be 1.5 billion to 1.9 billion Bbl. of Oil in Place ("OIP"