Just have to say9 May 2021 13:23
Guys/Gals we are sitting on a MCAP of 9.13M
we have just raised £3mil in a placing less than 6 weeks ago
We've then gone through >2weeks of high volume to confidently say those who wanted a quick buck with the placing shares should be minimal at this stage and those placing shares sitting in the hands of medium to long term holders
We have increased BOILs shareholding in SundaGas from 33.33% to 85% and increasing our indirect interest in Chuditch, from 25% to 63.75% for a reason and chose to do this now rather than sit on it longer and let someone else buy in
We have now funded the next stage of the project especially the critical 3D seismic reprocessing and other works required - no need for further placing as of now
Plus directors took place in this funderaiser - they have a good idea of potential of this investment.
To me we are litterally now sitting on a fully funded company with operations costs covered until November 2022.
We have directors who put their own money into the company (always a good sign)
We know from historic data we are sitting on a decent amount of gas - how much now is the question but on conservative estmates we look cheap.
Yes we take a risk on what is actually found but i think we are perfectly placed to sit this one out and see what comes up in the next 12-18months.
Once anticipation of results kick in we may move quickly from a mCAP of 9.13mil to anything upto 500mil (looking at 88e recent rise)
If no further placings then thats a potential SP rise from 0.09p to 4.93p over a period of 12-18months
What not to be excited about right now!
So anyone watching and waiting at this point there is very little risk especially with the recent placing.
Buying the dips is the game while we make our way up to the top!
Hope you all have had a good weekend so far :)
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