Hi everyone. Thought I would share some research that you might...

Hi everyone. Thought I would share some research that you might find valuable.

1 On the oil acquisition.
This acquisition is a hidden gem because of the timing. When they did the deal the oil price (Brent Crude) was $US 46/bbl and
today the oil price is $65/bbl which is a 41%
increase which is all profit. The timing of the acquisition was brilliant.

2. On the share price
There is a huge overhang in the stock that will be absorbed. 2 weeks ago the company issued 76.9 mm shares st 6.5 cents which
are well in the money increasing the profit takers move. The share price is driven by profit takers and not value investors in my opinion.

3. On Borba
a. The well is fully funded
b. The rig is on site, Spud imminent
c. The well has 11 potential zones to test
d. The demand for gas is high
e. The pipeline tie in is a mere 5km away

From a pure fundamental perspective, I believe this is as good as I have seen in a
decade.

Just wanted to share my perspective and suggest everyone does their own research. Rarely do small investors, which I am, get exposure to such an opportunity with solid industry fundamentals

The Captain