Member Info for SnipVW

agreed it has had delays, meant also to be drilled last year too and now updated to 2021 but these situations are more complicated than simply identifying drill targets. Once discovery is made then it starts from there. Only positive in this is that it has been ongoing and if anything will come to a head soon you have to feel.

certainly seems like a good company with good prospects. Even in this downtime until real operations can start again next year there is potential for 3 or 4 pieces of good news to help the SP increase. 4-5p jumps on each would be fantastic!

Signs are positive for a sharp increase. Too much going on for it to stand still;

New revenue from gas sales which have been flowing for a while from Las Bases
New well LB - 1001 results expected this month
EVN-x1 potential to open up another 20 years of new production
Revenue resources increasing y-o-y
potential of a Trafigura JV in EV/Renewables, part of their recent $2bn pledge last month along with PPC's separate announcement in this area around the same time
JV talks still on-going for the significant discovery in Paraguay
USA production on-going with a consistent flow of incoming cash to add to Argentina
Less than $4m debt from external suppliers
Lots of new equipment on various sites & upgrades to multiple wells achieving higher output
Paid in USD for all sales
Argentina gov't new appetite to open up more resources
Trafigura, The World Bank and CEO hold +50% of shares
MCAP of £30m, EBITA avg last 2yrs of £13m, not including the non-cash write-downs advantageous in current times.
Revenue has been strong and should have continued this year too, with a video presentation announced - who wants to be on camera delivering bad results when they don't have to?

it will need to raise cash to further develop, fairly standard practice for all similar outfits. If they sell off another 10% of the company in new shares or take on new financing to quad the revenue then I for one would be quite happy with this.

If this new well successfully produces, and 500+ per day, I would think would move up around the 5-6.2p. EBITA can not be ignored