Hi Phantom. I think we should start a new thread to talk about...

Hi Phantom. I think we should start a new thread to talk about the oil side. Does the board think that is a good idea?

to answer your question. Their oil initiatives have been valuable as they did the first deal when then oil price was low and have enjoyed the recent increase which is pure profit (less taxes etc) for the company. GJ is very clever as he acquiring cash generating production reduces the requirement for future CR and dilution.
The acquisition will spin of cash to continue drilling other wells at Borba as we now have a discovery. His strategy has been in the planning stages for some time no doubt and it looks like it is coming to fruition now.

Borba is a company maker with a gas discovery and potential for a multi Tcf play while the oil acquisitions are the company sustainers to fund Borba or further oil acquisitions without drastic dilution

looking pretty good from my perspective but as always, please DYOR and share with the board

The Captain