RE: 32p got smashed in auction24 Oct 2024 18:22
One also has to consider the very accommodating tax regime in this region for O&G Companies.
A massive reserve will be very attractive when the explorer is able to keep the bulk of the profits, whereas our UK Government is already Hammering the industry in The North Sea with a pernicious Tax levy.
Personally, my view is with such a low share count, a potentially vastly bigger MCap, accumulation by investors at these levels will simply be locked away, & I foresee a real squeeze and some very volatile weeks ahead.
Could be quite an Xmas present when are Farm out partner is announced.