focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Given that we have seen some fairly obvious range control on the SP, that this is being primed for the US moment as we speak.
The medium/long term investment case and green credentials are obvious enough but if it's sat there looking a little oversold at the open, then I'd imagine demand would be very strong indeed.
Don't think there's much trouble seeing this into double figures, possibly by month end.
That would be rather nice.
Anything other than a substantial rise in the short/medium term.
Should see 10p+ during the drill no problem but after that will depend on news and progress.
The figures CH refers to are truly mind-boggling and there's every reason to think they will get there in the end - There's at least £2 billion worth of oil to be had for a company with extensive drilling experience and funds to continue to develop numerous wells, so it may just be a case of how long it takes really...
Missed my point a little there -
I know long term there's potential for massive upside (been here since the Rose days).
I'm wondering, if they announce that (for example) the imminent drill is targeting $600m worth of oil instead of $200m worth, where that might put the SP.
Don't think this imminent upside is factored into the SP at all as it stands.
Is just a large buy order, filled by a tree shake IMO. Seen it before.
I do think the analysis results which are due imminently are likely to show a significant upgrade in terms of numbers -
Don't know why they would set up the US listing or the carbon neutral agreement if they weren't targeting major institutional buyers, with some very deep pockets.
Could be a billion dollar play within a week here...
The $150m figure was imply based on the proven reserve being targeted in the initial drill next month. That was based on $55 oil too.
The supposition, as was suggested by CH in his summary, was that the overlaying reservoirs will add significantly to this figure and that, even on this drill alone, it may be a far higher figure. There has also been a long-held belief that there are $billions worth over the whole field.
So the thing is, the July drill is worth well North of $150m but the read through might well be that proven and probable reserves are $billions by that point - The update on the further reservoirs is due any time...
Still well undervalued here but everything pointing towards substantial uplift.
This might just fly into double figures on sentiment and potential, regardless of the drill bit.
We've seen it before...
To the BOD here. I've seen countless shoddy oilers over the years with directors who promised the earth, lined their pockets and delivered nothing.
Not this lot. Absolute top work. Much more to come here.