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Ann: Rising oil prices - Hedging Update, page-48

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Quest09

899 Posts.

124

03/10/23

13:51

Post #: 70148016
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Originally posted by Quest09: ↑

CE1 looking primed for a breakout IMO.

- currently undertaking a drilling campaign for 3 new wells (Attachment 1 & 3).
- $7.5 million capital return, equalling 1.2c per share due this month (image of announcement below).
- oil prices in an uptrend and looking strong (attachment 2 & 3).
- Auctus Advisors have a price target of $0.45c (attachment 5).
- management have been recently buying on-market.
- top50 shareholders control 63.6% of CE1.
- Canadian players have presented takeover bids for CE1 in recent past, and future bids are being speculated.
- strong news flow expected in the short/medium term due to drilling campaign and due to talk of potential takeover bid.
- Annual revenue = AU~$98 million dollars.

Current market cap AU$~ $58 million

Significantly undervalued IMO

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Originally posted by Quest09: ↑

Auctus Advisors have a share price target of: $0.45c

Current share price: $0.09c

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CE1 Price at posting: 9.3¢ Sentiment: Buy Disclosure: Held
7 Upvote

1 Great analysis

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