Well said sinbin. Here is a quick comparison stock, just for the...

Well said sinbin.

Here is a quick comparison stock, just for the fun of it.
I will call it TTE vs RXL.

RXL made a nickel discovery in WA a few months back. Prior to the discovery they were 1.5 cent per share. So roughly the same as TTE today.

After the discovery, they shot up to (or maybe even above) 10 cents. A bit of reality has set in since and they are now at 6.7 cents - still a nice little earner, as they say.

RXL has no production of any sort, that I know of. I have seen writeups (can't remember where but could have been the online version of 'The Australian') that they will have to do a massive capital raising if they are ever to bring this discovery to production, or even close to production. On top of that, nickel is a mineral that has been dropping in price in the last 12 months or more.

Number of shares on offer is 600 million approx (taken from last half year report) and market cap 40 million.

TTE, on the other hand, is 1.6 cents today, and has production of 100 bopd at the moment (and at $7 below the Brent crude price), from re-entry wells that cost very little to re-enter and in which they lifted production from 12 bopd (from these same wells) back in Oct 12, to the current 100bopd.

TTE has made a significant oil discovery and across 4 levels, from one well - plus they never reached TD due to a severe 'kickback' (makes you wonder what is at the target, the 5th level).
They have a 68 ft level of oil sand which is currently being placed on production. They have gone for 17 ft of this for immediate production and we all hope to have the results of that next week - preferably early next week.

On top of that, they are currently drilling in DR11, in hope of finding hydrocarbons, so that they can secure the lease from WA's DMP (whose rules require this). Chances are very, very good, that hydrocarbons will be found, just check all the great research on here and NWE to see why some of us think it is a no brainer.

TTE is raising capital - and that has to be for a reason. My bet is that the reason is, the discovery in the Allen Dome and they are wanting fast forward the drilling program.

TTE share on offer is somewhere around 1.5 Billion.
Market cap is half that of RXL.

Now, you tell me which of these two companies sounds like the best short term, medium term and long term bet.

For me, it is clearly TTE.

How far the sp will go once we know bopd (from just 17 ft of the 68 ft, let alone the other zones, in just one drilling)
is but anyone's guess, considering the amount of market manipulation in this stock .......but they are not manipulating for nothing.

Anyway, time I got off here.
All the above is my personal opinion and is not investment advice. As always, DYOR.