RE: News17 Jun 2020 16:19
We know that they are working on a substantial upgrade in numbers based on ongoing seismic work and 2 months ago said they would update shareholders in a few months time, if you go on ADVFN someone has also added a transcript of their last Webinar which is very informative. Hope to hear news within next month on resource upgrade as well as what plans they have to continue with these upgrades re getting contingent/reserves levels of their estimates. The Data room was confirmed to have been moved to virtual at last update and also a mention of a US National just signing a confidentiality agreement to enter it. Given that the company estimates of low comparative costs to get the oil out of the ground, time to get it out in the order of months instead of normal years due to limited infrastructure needs and oil producers already reporting that they are not going to re-open some plays due to high costs, then for me this share is worth staying invested in to see what the upgrade is and if they can get a farm in partner on board with a decent deal. The interesting question is do you stick around after a resource upgrade but before a potential farm in partner is agreed....either way there is lots of upside potential from where the price is now...