Hi, I agree with your assessment, I am not expert in Oil & Gas, but from what has been announced so far and the Independent Resources Assessments for Amistad of 35m net barrels for MAY, IMO a fair price for MAY currently is around 15c which also includes all their other prospects and projects..
However IMO that is all about to change once we get the following:Other announcements which will have a positive upside:
- Independent Resources Assessments for Alameda and Marti, IMO this will add 10-15c in share value depending on the size of the resource
- Zapato oil discovery, IMO this will add 10-20c depending on the size of the oil discovery
IMO my price targets for MAY are as follows:
- Road map to production
- Flow tests
These above are my opinions only and is what I am speculating on the share price.
- short term (1-2months) 20-30c is achievable with the announcements of the Independent Resources Assessments for Alameda/Marti and a road map to production
- medium term 50c (3-6months) with production from Alameda and/or discovery from Zapato
- long term $1 (1 year plus) multiple well production from Alameda and Zapato
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- MAY
- Ann: Drilling of Zapato-1 exploration well commenced
Ann: Drilling of Zapato-1 exploration well commenced, page-76
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