TBN price action is compelling. Blown through all DMAs bar one - the 200 DMA at 16c beckons.
The odds of positive news flow over the next few weeks and through Q1 far outweigh the chances of negatives.
Two fracs underway run by a leading specialist team with ample resources and immense experience - 1700m and 3000m with strong gas shows - no faulting - 3km deep with a beneficial pressure gradient - largest most powerful frac spread ever in the Beetaloo - 5kms from highly successful SH1 - no heavy rain expected for at least the next 7 days.
The 3000m SH3/4 could be spectacular. In the lead up, the 1700m side track should deliver strong flow rates.
Add in: - water permit clearance - $60m APA pipeline deal - long term $1bn binding gas off take agreement with NT government - well funded with deep-pocketed goal-aligned experienced investors and operators + NYSE listing
Odds-on I reckon for the share price to head back to the 20s and higher in the next 3 months.
TBN Price at posting:
15.0¢ Sentiment: Buy Disclosure: Held
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