It does not take a genius to figure out why have two drills planned on same acreage. They always wanted to keep easy extractions at the end.
In years I have never seen them plan two drills at same acreage. Like they have cash to burn to be that fancy
Realistically if they did the easier ones first and then tried the difficult one afterwards it could tank the SP and the company. But since in my opinion they have went other way round drilling where big boys are...
they have milked old shareholders good very sharp company IMO
You will only put two drills on same acreage to extract oil quickly for that per day production yield and oil prices going sky high as world opens up. The announcements have made it clear that if they hit oil the other will be drilled immediately. A little reading between the line required
. The immediately can only happen as plans are already in place to do it with permits and approvals or in pipeline.
Not to mention 88E drills are smack in the middle between 3-4 oil producers. Place your bid please for take over so we can all have dollars for our shares after a nice bidding war even.
we have had enough pain.
They can not really say we'll hit oil and that's why there is another drill planned following first one. They are just making them look juicy for a take over too. let me remind you that Alaska North Slope means anything at the lower end of the slope can literally extract reserves of neighboring shales if the sediments are inter-connected. hydro-carbons just flow like that - natural physics.
That combined with drill company taking up shares was interesting turn of events.
One stock between Australians, Americans, Germans and British. SP rise will have a roll over effect cuz when we sleep other countries will chase it and vice versa. each morning open will gap up to where it should be been. technically there is no way for a better price if future. what you hold today is what you can sell at best price tomorrow. Do note this company is massively held by individuals (about 70% I think) so institutions want your shares for the simple fact money is to be made in days to come.
BOT action is hard on this now and short rumors on OTC.
short squeeze rises are insane.
Then you have Dave taking up more shares and resignation in place to enjoy the retirement.
Old holders with 12 month CGT benefit in place will make the most out of it if you hold over a million in shares on this
don't be a sore loser and down ramp just cuz you sold at loss, break even or little profit then you would have actually preferred.
PAY DAY is near baby
too many green flags all around us. IMHO
(20min delay)