At 3c it’s a 10mil business that has reserves of 600k bo, at $15 in the ground value that’s your 10mil, at $10 a barrel it’s a six mil company. They have talked for ages about their reputation and incountry options etc - I don’t care either way as I don’t hold, would love to thats why I keep coming back and checking it, but it’s a 2 cent 3 cent play always capped by 4 cents as at that point all the options they through around are in the money. Loved Tino at Stuart in the early days just don’t see this one playing out well, compared to others in the market. If he has a second signed deal in Indo that ould give me more faith. Remember higher production of a set reserve figure only adds value at the rate of cost of money over time, nothing else. If these are new reserves that’s different but the releases are not clear neither is how they have found the supposed $2mil for the drill.
BAS Price at posting:
0.2¢ Sentiment: None Disclosure: Not Held
