What says it for me is the projected cash flow page! Negative for 2017 after capex and admin. Also - I seem to recall being "moderated" some time ago for suggesting one of the wells had an issue. Seems my contact was right (pump replacement). This is obviously a big deal (must be around $2.4M in total if TEG's share $1.4). Question is why has this never been mentioned before? Surely quite material to little old TEG which has no cash. Also note the small print that says $1.4M of their cash still in escrow. Must be running on fumes at the moment and praying the Indonesians release that cash!!
Preso looks a lot better - but nothing new in there to change my view. Management and Board still very weak in O&G experience.
DYOR
Good Oil Conference, page-10
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