Agree with the logic.My assessment is that at $15m current mkt...

Agree with the logic.

My assessment is that at $15m current mkt cap and the chart showing a clear bottom there is minimal downside risk here.

I value the new WH well at $15m and the rest of the business at ~$15m based on conservative numbers giving a total mkt cap of $30m or ~3cps.

Upside from successful recompletions, new drilling and oil price appreciation (which I also expect) could see this easily rise to $100m valuation or ~10cps.

I agree with the uncertainties around management intentions and Helios involvement however the recent announcements have been very bullish so it doesnt seem to me they are intentionally playing down the success for a cheap takeover. My sense is they are just running very lean and don't have many resources on corporate governance/marketing/investor relations.

Would be nice to see directors buying at these levels to give the market some confidence. Seems like a no brainer if whats being reported to market is an accurate reflection of success on the ground.