Ann: Investor presentation and Webinar, page-2

Probably the best no bullshit presentation I have seen from FPL for years.

Actually putting up some actual business metrics and KPIs
eg US$5k per 1 barrel gain from workovers.

On surface this acquisition looks pretty good
I'll temper that with the vague statement "and operationally profitable"
Likely just means revenue - production costs and staff.

I doubt this was sold for US$425k and be truly bottom line profitable...so expect negative cashflows overall for rest of 2021 imo.

Looking at this adding 100bbls + liquids, you can still see currently that TREY still looks to be a dribbler at total 240boepd after adding acquisition.

Still some $$ issues on horizon including accounts payables outstanding and Trey $1.3m owed soon which are more than current cash.

But first time I've seen a glimmer of hope in years
Shame its $5m a pip diluted. $25m cap .005c

3 month target is 300bbls per day....lets see.