Ann: Quarterly Activities and Cashflow Report, page-36

People talk. I trade with a group that is always looking for small cap opportunities. We're always looking for the next one which means you end up analysing several opportunities a week. Fortunate enough to have benefited from a dozen or more massive rerates over the past few years following this process. Indago seems to tick a few boxes that I use as indicators for building a small position (generally $20k until I get more confirmation. Currently stuck at ~$8k until someone sells me more).

One thing I'm grappling with still, which is stopping me from opening up my buying, is if successful whether the industry would see this as a positive given the current state of oil prices. Sure it would improve margins by lifting efficiency and reducing waste which seems intuitive that some would want this. But there's also a risk that some players may lock up the IP and shelve the tech as increased supply is not necessarily something the industry wants or needs. What's everyone's thought on this?