Concerning news about the drilling difficulties. Previous attempts to develop this acreage have faltered because of this.It may not be economical to develop the acreage with an oil price in the 50's. Much higher risk than the Permian or Eagle Ford. ATS are spending 25 days drilling a well whereas e.g. FDM are spending 9 days. Big difference in cost.
I previously had a holding in ATS, which I was lucky enough to exit at 52c. Been watching ATS for a lower re-entry but overpriced IMO considering the risk, particularly following this announcement.
Concerning news about the drilling difficulties. Previous...
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0.9¢ |
Change
-0.001(10.0%) |
Mkt cap ! $11.57M | |||
| Open | High | Low | Value | Volume |
| 0.9¢ | 0.9¢ | 0.9¢ | $33.62K | 3.736M |
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| No. | Vol. | Price($) |
|---|---|---|
| 3 | 1540935 | 0.9¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 1.0¢ | 1434060 | 7 |
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| Last trade - 16.10pm 20/06/2024 (20 minute delay) ? |
| ATS (ASX) Chart |