Not necessarily.
@Catch2200
Too good to be true oil plays litter the ASX graveyard - who can forget FAR?
The quarterly is telling.
No real advancement made in cash reserves - (have the Canadian assets really increased production quarter on quarter by the promoted, expected margin?). See below from SGC ann 30 July 2021:
The above "reinvestment into the asset ($573,000)" has delivered a production after royalty increase of ~5 barrels a day.!!!
[(5 barrels a day $22.87) x 5 x 92] = $10,488.
Anyone expecting substantially more? - SGC Sept Quarterly 2021.
Above is not financial advice and my opinion only.
Ann: Sacgasco to Advance Borba Hydrogen Project, page-92
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