Net earning for 2023 is 0.34c versus 2022 of 0.35c showing the earning sustainability with no new wells drilled in 23.
Based on current sp of 1.4c, the PE is 4.4 versus the industry of 8. Hence, I see short term sp of about 2.5c
The 4 new wells are expected to add 78% BOEPD. Shall we see sp at 4.5c by Dec 2024? That'll be 3 baggers from today.
I like the acreage increased by 12.5% as well. And if it can continues to drill the oil rich areas using foreseeable strong cash flow, who knows where sp will be in next 1 to 2 years??
Stay tuned and enjoy the pump!
Net earning for 2023 is 0.34c versus 2022 of 0.35c showing the...
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