SAE have just announced that revenue will be US$2m next month on full production of 1,000 bpd. Production will rise to 2,000 bpd early next well as extra production wells are brought on. Thus revenue from NSA field will be around US$48m or A$55m next financial year for SAE. Fully diluted market cap for the stock is only A$120m and this field is expect to have a life of at least 10 years!
On top of this, two significant exploration wells to test in next two weeks and development of the low risk Paris valley field early next year is targeting to increase reserves six fold!
In addition, company already has $10m in the bank to cover all its exploration costs.
This has got to be the cheapest oil stock on the market, no?
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