Workover as per the company release has 2 timelines. The annual report states "first half of 2011" I read that to mean 5 more months.
But... the public release states "first quarter" which would mean another month.
There is still a wildcard of the PSC renewal which would throw the production expectations onto the back burner as I agree with most here that heavy volume depends on getting approval. Once that washes out then the production numbers will give the stock legs.
Now if the renewal is not in place until the end of the current contract next Feb then we might be waiting a while but have a great chance for a dividend on higher production numbers post rework.
Remember alot here have a buy in $0.024 or lower. So pot odds on waiting a year or so. But I stand buy a "hold" if you own it and "buy" on positive news. Sellers already control this stock so there might not be much around when news fans out and if there are sellers I see it going up quickly. Remember renewal will be a bigger pop than production (rework).
The resumption of production will definately result in a news release. Probably 2 steps one to state intial readings and then one a few weeks later stating sustained numbers.
Go to their website and sign up for their email subscription that way you will get the news just after the rest of the world does :)
TEG Price at posting:
6.5¢ Sentiment: Hold Disclosure: Held
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