Would love to see any of your numbers or analysis on a fair value figure based on reserves alone it should be sitting at a fraction of the current SP.
The company seems to be pivoting from Alaska as they know another failed drill would be the end of the current EV so they are looking to diversify by purchasing cheap acreage which will require significant CAPEX which shareholders will need to fund ......
Buying at 1.5c when its clear a CR is around the corner or alternatively a farm out giving away a significant portion of Alaska at a fraction of the current EV.
The next quarterly with the true cash position and generation from longhorn will make interesting reading - back to what 88E do best and drill more money from long suffering shareholders pockets.
Ann: Project Icewine Update, page-46
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Mkt cap ! $57.86M | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
|---|---|---|
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| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 573714669 | 217 |
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