Thinking about the relationship between:
1) the resource in the ground
2) the # of barrels per day coming out of the well
3) the share price
• We have a massive amount of oil in the ground - nobody is arguing that - the recoverable amount keeps getting revised upwards - and there are plenty of other reservoirs in Block 9 yet to be counted in
• We could bring up 1500 barrels per day from the upper sheet - that has been proven
• We could bring up around 5000 barrels a day next year - from the lower sheet - given higher pressure and better well design - that is a very strong hypothesis - and will be validated by March
• But we have a SP that reflects none of those realities!!
The SP is being held back by a lack of volume - the lack of volume leads to weak signals - which in turn leads to possible investors staying on the sidelines...
But this could change on any given day. All it takes is for a clearer consensus on the mismatch between current SP and what it should be - and a much bigger crowd will show up - and when they do the herd will begin a stampede.
IMO - the SP should be at least 20c right now.
The gap upwards must be filled!
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Mkt cap ! $195.4M |
Open | High | Low | Value | Volume |
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Buyers (Bids)
No. | Vol. | Price($) |
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4 | 482500 | 5.7¢ |
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Price($) | Vol. | No. |
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7 | 879772 | 0.056 |
6 | 853818 | 0.055 |
3 | 34537 | 0.054 |
1 | 100000 | 0.053 |
Price($) | Vol. | No. |
---|---|---|
0.058 | 120619 | 1 |
0.059 | 390318 | 4 |
0.060 | 1075174 | 7 |
0.061 | 275752 | 7 |
0.062 | 1634522 | 5 |
Last trade - 16.10pm 26/04/2024 (20 minute delay) ? |
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