The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
Anybody here dare to explain why this SP has declined over 95% over the last year. They reported in Oct 2023 19% increase in annual profits. No other bad RNS released or a "know of no reason for the SP slump" issued. Why the decline, have the markets got it so wrong at 200p but right at 8p?
The coming months will hopefully see some upside. If BCE side track is successful and flow rates are good plus if Oklahoma flows 200bpd with more wells planned we will be back in the thirties. Plus Wes Newton in the mix. Market sentiment is not great at the moment, lots of shares out there have crashed big time over the last year. We will recover in due course.
If this flows at 900bpd the annual revenue is 20m dollars, market cap 14m with 4.3m cash from recent raise. A steal at 0.10p, purchase and be patient over the next year or 2. Potential 5-10 bagger. Also PPP, producing 248bpd with another well being cleaned up with more in the pipeline, market cap only 2m, another potential 5-10 bagger.
Construction costs have soared over the last 2 years by 25-30% especially with structural steel and cladding. Plant development costs have probably been a factor.
The Company will further outline its commitment to execution of and progress with its strategic shift in its 2023 interim results, due for publication by the end of September 2023.mmmmmmmmmmm
Claire Coutinho appointed energy secretary and voted against Labour motion to ban fracking. It was Liz Truss support for fracking last year that sent these oil shares rocketing, perhaps a change in policy in the near future?
Forget takeover the offer would be too low. Positives are Italy up and running, next Croatia and France all providing revenue streams; 25% slashed of wage bill; refinancing of Italy project. If Southport and Billingham get closure it will be the rabbits pulled out of the hat.