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There is no asset until the drill goes in and proves it is there. Just because your neighbour has a billion barrels of oil, it doesn’t mean you will have. Peeps need to stop spouting about a billion barrel asset, there isn’t anything down there….yet!
I’ve just listened to Alan G’s podcast, sounds like lots of assets, they also have 2 of their own drills, what’s the issue here? No cash? Seems like many companies would love to have their own drill rig, why isn’t ECR turning their assets into Swiss cheese to prove up these assets?
Thinking about averaging down, but maybe not worth it it they’re not going use these rigs to find some gold.
I remember this company from 2018, the SP went up for 8 months, sounds like they are getting to an interesting stage of development, Hope I'm not too late to the party, feels like it might just be getting started though, might be the next GGP or ARB from this low market cap?! Sounds like August's news could be good.