Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Share price been sleepy for a long time, herd arriving and will move quick. Great value up to 5p.
With Wressle as an income stream and MC of £7m can't go far wrong.
What was the point in applying for additional 6 wells; if 2 already drilled don't flow another 6 will probably not flow either. I assume the next prudent approach is to stimulate the 2 already drilled wells before drilling another. Anyway will be interesting to see what news comes out over the next couple of weeks on plans going forward.
Concern is this co. pre-tax loss for 6 months to June was £10; with £3.6m in cash; further £2m raised via placing leaves £5.6m. Pro-rata this will not last long. Distressed sales of non core assets may not bring in the cash expected. The placing discount and small amount raised is a red flag. This could have been done earlier in the year when SP was lot higher and more cash raised removing a lot of uncertainty.
Regarding EQT was a classic, could buy at 0.09p late 2019 early 2020 by Jan 2021 it hit 3p 30 bagger. Now 1.2p but still bagged 12 fold from lows. Worth the risk but don't put the house on this.
Hysteria taken over, this was not a duster; oil recovered to surface albeit not in sustainable flows. Let's see what experts say regarding the stimulation methods. If successful its game on, maybe a propane squeeze.