CE1 current market cap is significantly undervalued IMO
CE1 Positive Outlook
- ~$100 million dollars in annual revenue (~$25 million revenue per quarter, as shown in below screenshot).
- ~$17.3 million dollars cash held in bank, with zero debt (pre October capital return).
- ~60% Gross Profit margin (from memory).
- 28% reduction in capital spend when compared to 2022, whilst maintaining production rates.
- Potential second capital return to occur in January 2022 (just weeks away).
- Recent increase in CE1 oil & gas production rates to over 4100 BOE per day as a result of recent successful drilling campaign.
- Pisces12 well still yet to be brought online from recent drilling campaign. Market awaiting new and increased production rates after Pisces12 well is brought online.
- Announcement confirming the completion of recent upgrades to oil & gas transport and storage infrastructure is also due (upgrades will further increase production capacity).
- A new drilling campaign commencing next year (2024) to further increase production rates has been announced (market announcement of detailed drilling plan is due any moment).
- Potential $80 million dollar sale of Brooks or Thorsby oil & gas assets could be announced at any moment (as indicated in below screenshot).
Announcement Showing Current and Future Quarterly Revenue
Announcement Showing Potential Sale of Brooks or Thorsby Oil & Gas Assets
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