RE: How profitable is NTOG?28 Dec 2024 11:44
This should be a great recovery play going into 2025 - pine mills is currently at around 80 bopd, increasing with the ongoing water injection programme, plus further well workovers to be completed. I think in next couple of months with Fouke production combined they should be at or around 200 bopd and well in the money.
Hence the CEO recently quoted as saying "no further discounted raises".
They still have cash to come from asset sales yet to happen, plus with them being profitable and having reduced costs massively, and with a NAV 10 times current SP, I can see this back to 8-10M Mcap pretty soon.
Current Mcap just over 1M 👀