Overheard on a train journey
Bad guy…..yeh heard of them, a tuppence ha’penny bunch scratching around in the States
Good guy …..Come on a bit since those days
Bad guy …..Doubt it, weren’t they always banging on about pillars or summat?
Good guy …It’s true I suppose, there was a bit of uncertainty about what they were actually up to then.
Bad guy …..Typical micro cap oiler, no money, only prospects, and a gazillion shares on issue. No thanks mate, she’s all yours.
Good guy …Might surprise you, they’ve managed to drill four wells, all successful and all without borrowing.
Bad guy….Good for them, but four wells ain’t gonna take you far. What’s their market cap?
Good guy…..About $67m
Bad guy…. Well that says it all, that’s about $43m US. Nobody rates them._
Good guy….They’re on a 4 well drilling programme that’s gonna cost them $26m US, all without borrowing, maybe the market has this one wrong
The bad guy falls silent for a couple of minutes.
Bad guy….Do they have anything else?
Good guy…..Yep, once this programme is complete, they have plans to drill out over 8million boe, in a 16 well programme over the next few years.
Bad guy….That’ll cost them a motza
Good guy…..It will, well over $100m US, but they plan to virtually self fund their costs. Might arrange a small credit facility but basically they’re gonna internally fund things.
Bad guy falls silent again, then takes out his laptop and starts pounding at the keys. Eventually he looks up.
Bad guy….Not a bad set of financials, I’ll maybe look into them, could have turned a corner here.
it was my stop then so don’t know how the story went after that.
Overheard on a train journeyBad guy…..yeh heard of them, a...
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Last
1.4¢ |
Change
-0.001(3.57%) |
Mkt cap ! $64.32M | |||
| Open | High | Low | Value | Volume |
| 1.4¢ | 1.4¢ | 1.4¢ | $15.22K | 1.088M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 36 | 13983753 | 1.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.4¢ | 9706003 | 9 |
View Market Depth
| Last trade - 11.42am 03/05/2024 (20 minute delay) ? |
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Last
1.3¢ |
Change
-0.001 ( 7.14 %) |
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| Open | High | Low | Volume | ||
| 1.4¢ | 1.4¢ | 1.3¢ | 2399566 | ||
| Last updated 15.54pm 03/05/2024 ? | |||||
| BRK (ASX) Chart |