Thinking about the relationship between:
1) the resource in the ground
2) the # of barrels per day coming out of the well
3) the share price
• We have a massive amount of oil in the ground - nobody is arguing that - the recoverable amount keeps getting revised upwards - and there are plenty of other reservoirs in Block 9 yet to be counted in
• We could bring up 1500 barrels per day from the upper sheet - that has been proven
• We could bring up around 5000 barrels a day next year - from the lower sheet - given higher pressure and better well design - that is a very strong hypothesis - and will be validated by March
• But we have a SP that reflects none of those realities!!
The SP is being held back by a lack of volume - the lack of volume leads to weak signals - which in turn leads to possible investors staying on the sidelines...
But this could change on any given day. All it takes is for a clearer consensus on the mismatch between current SP and what it should be - and a much bigger crowd will show up - and when they do the herd will begin a stampede.
IMO - the SP should be at least 20c right now.
The gap upwards must be filled!
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Last
3.0¢ |
Change
0.002(7.14%) |
Mkt cap ! $94.36M |
Open | High | Low | Value | Volume |
2.9¢ | 3.0¢ | 2.9¢ | $43.85K | 1.495M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 20000 | 2.9¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
3.0¢ | 512417 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 344827 | 0.029 |
5 | 676728 | 0.028 |
6 | 737370 | 0.027 |
6 | 337041 | 0.026 |
8 | 2768660 | 0.025 |
Price($) | Vol. | No. |
---|---|---|
0.030 | 330382 | 4 |
0.031 | 1183379 | 5 |
0.032 | 1455000 | 6 |
0.033 | 1066600 | 2 |
0.034 | 1910322 | 9 |
Last trade - 10.37am 23/09/2024 (20 minute delay) ? |
MAY (ASX) Chart |