VIDEO: ATS reports promise and consistency over HY21, page-22

I wonder whether that article from Oliver Gray "The Market Herald" was an advertisement or well researched.
There is a lot of average writing and cheap talk at times. Only two years ago an elaborate document was produced by a leading brokerage firm that valued ATS at $1ish going forward. An incredible array of optimistic numbers and assumptions summed up its value. If that institution and their analysts have not bought heavily into this stock you would suggest they didn't believe their own assumptions then or perhaps they got something fundamentally wrong. Food for thought now 4.3cents.

38 producing wells sounds impressive doesn't it? These are all ageing being pre 2015 drills with only a trickle coming out of most I believe. Only two of the six wells drilled post 2015 produce at good flow rates and from an economics perspective are viable at their drill cost at todays oil price.
If they get a partner before their funds dry up, if they can drill say six strong full depth and lateral wells (20 fracking stages) at between $10-$12mill each and if the oil price remains above $70/barrel on a consistent basis investing in ATS makes sense because it would prove their concept.

If you were a prospective partner would you inject say $65mil (6 wells) into a company that has a market cap of $40mill for say half of its potential? I don't know the answer to that, other than to say any prospective partner would have to believe that either ATS made some fundamental mistakes during their previous drilling campaign that are reasonably correctable or the future oil price will sit at a very high $100+/barrel as was the case during the Ecanna drilling in 2013-15. This $100+/barrel scenario allowed the average drill cost of around $16mill to still be economically viable. These are just some of the important aspects in considering this stocks future I believe. Often it is not what is said by small cap companies but what is not said that is most important. Also brokers only know what they are told and of course these companies all want to put a positive spin on their projects. I don't profess to know the future here but suggest an understanding of the technical aspects and hurdles of such companies is paramount before investing. DYOR I am interested in others thoughts and of course I may be totally wrong in my assessment here.