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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2.4¢ |
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Mkt cap ! $80.88M |
Open | High | Low | Value | Volume |
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Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 338720 | 2.3¢ |
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Price($) | Vol. | No. |
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2.4¢ | 2244796 | 10 |
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No. | Vol. | Price($) |
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4 | 338720 | 0.023 |
18 | 6268773 | 0.022 |
21 | 2118175 | 0.021 |
22 | 5362776 | 0.020 |
8 | 961198 | 0.019 |
Price($) | Vol. | No. |
---|---|---|
0.024 | 2244796 | 10 |
0.025 | 900000 | 2 |
0.026 | 1993955 | 8 |
0.027 | 1126611 | 3 |
0.028 | 1562711 | 10 |
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