-EV of 5M on a small 18M MC -T20 of 77% -Very tight float on SOI with 52% of shares escrowed (Longreach) for another 18 months. Wow!
-They don't need to find Oil (which they likely will) on some of their leases. They just need to do offtakes with the majors, who are desperate for prospective leases. *Sell the shovels and picks...and the land near the creek.
-FDR has over 10 leases in the North sea and off WA. -If the world wants cheaper oil, they are going to go HAVE to go drill and find some. -FDR has prospective leases the Oil majors are going to want.
-Mgmt. and insiders have successful record of getting runs on the board.
-Mgmt. are HIGHLY incentivized to get SP to over 30c (read pg.29 of AR) -Current SP of 10.5c -Heavy newsflow expected in next 3-6 months.
