RE: Ready to explode29 Dec 2023 10:08
Even BOIL with 19bn shares in issue to TRP's 12bn are trading higher at 0.083 (circa £15m mcap) without a rig or farmout. TRP at minimum are worth £20m pre spud and thats absolute minimum. For perspective BCE with 13bn shares in issue recently tagged £30m pre spud. UPL are trading at £47m, MATD at £45m.
TRP at £2.6m and has a discovery made by Total no less, this is not wildcat exploration. There is no way this is staying at this valuation now. Theres too many catalysts in Q1:
Short term news flow catalysts Q1:
1. Licence extension
2. A couple of asset level financing partners
3. Service contracts
4. Spud date narrowed down to more specific date
5. Rig Mobilisation
6. Drilling starts Q2