Rerates don’t happen all in one day. This will continue to build from here toward a more realistic true valuation of the transformational deal with Newmont. Any further news in the short term may create a shorter term spike due to liquidity but I’d say from here this is a keeper.
People need to realise. Newmont take 20% no usual funding. They don’t plan to sell. They want to develop. They will take higher % it’s all in the rns. 20p is cheap, 10p silly cheap.
DGOC is doing 60,000 boepd with a mcap if 582m so on your figures that’s 10,000 boepd per £97m of mcap. Their production costs are @$7 per barrel, they now pay 1/4rly dive and have no drilling risk. Just saying.