RE: Some decent buys11 Aug 2024 20:49
Been having a look through recent June 2024 Corporate presentation - makes for very good reading showing some serious potential near term upside here -
Change in Focus - Pine Mills
● Cash generated from sales to be re-invested in Pine Mills asset
● Currently have 10 idle wells that can be returned to production
● Review of regional 3D seismic program is delivering new locations -
- Fouke 3 location identified (Subclarksville) 2 more structures being reviewed
- Reviews of 3 additional horizons to follow, anticipate another 2-3 locations to be identified
- Lot of potential upside in undrained fault blocks within the main field area.
● 9 well reactivations - 80+ additional bopd
● 3 infill drilling opportunities - 300 bopd
● Waterflood optimisation - 30+ bopd
A new CEO at the helm with management having plenty of skin in the game along with huge support from institutional investors, this certainly won't stay at the current peanuts £800,000 market cap for long, GLA :))