I can only advise you read the report...5-10 minutes.
But to answer your question....Hell No :)
...Valuation is only based on near term developments...
Heres and extract:
Recommendation Excellent initial results from seismic combined with funding certainty are sure to re-rate
Swala in the near term. Additional catalysts are expected from: ? seismic results at Pangani; ? commencement of seismic at 12B (with Tullow); ? award of additional permits; ? continued drilling success by others; ? and interpretation of seismic in both Tanzania and Kenya
All are likely to maintain the positive share price momentum well into next year.
The results from the Kilombero Basin are particularly encouraging as all signs point to an analogue to the Lokichar Basin and the Albertine Graben, where significant oil volumes have already been discovered.
Same aged rocks, same depositional environment, same play types and evidence of Direct Hydrocarbon Indicators should create increased interest in the stock from a wider investor audience.
We rate Swala as a BUY with a price target of $0.61 (prev $0.57).
End.
SWE Price at posting:
23.0¢ Sentiment: Buy Disclosure: Held