Discount to IPO - #BLOE11 Jul 2018 16:05
Institutions including Miton and Amati Global in at 4p, £5m raise, $39.3m worth of 2P net oil reserves, plans to increase production to more than 900bopd within 18 months and 608 BCF of gas to develop.
Cost of production c.US$25 per barrel and netbacks tof $30-35 per barrel.
Gas sales $5/Mcf gas and netback of c.$3+/mcf gas
Massive revenue potential for MKT of £8.5 million!!!!!