great to see gross profit running at 72% of revenue. very good and prob an industry stand out.
more certain opportunity to see share price movement will be when they move from Cris 3 to Cris 2 sands. production could increase from 135 bopd to 400 bopd for 2 years. that's an increase of 265 bopd and GGE at 40% represents 106 bopd.
based on current oil price of aud $90 per barrel that's over $800 k per quarter in revenue. massive for a market cap of $3m when your doubling revenue and more than doubling profits each qtr.
until then , cash will keep building again.
GGE Price at posting:
0.3¢ Sentiment: Buy Disclosure: Held
