the company is bleeding very little cash quarterly. With the new well, they are very likely to make profit and has no debt.
why sudden the stock sound so doom?
why Indonesia? Indonesia energy demand has grown substantially and so their oil import has sky rocket.
This stock was trading between 0.2c-0.4c when they still have debt and less production.
Calm down people, this is a spec stock so you wont get rich overnight. At least they are producing not like many still exploring.
Ann: Onshore Indonesian Oil Operations Update - October 2019, page-9
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