very bullish on BYE. My target 30c for Sept 1 (rig scheduled to come online) and 70c by end of year.
SM58 (newest rig) is planned to do 8000 barrels a day. Currently LLT is around $43 a barrel.....work those figures out manually then add in the gas they are also pulling out (now work out the figure if oil goes to $60 a barrel....doesn’t cost anymore to produce!) Also keep in mind they’ve got a great hedge for their oil and to top it off....a large portion of American oil producers have gone bust over the last 6 months. Supply/demand drives pricing to a degree even with OPEC intervention.
Love buy as a short/medium term option.....continually rising a couple % a day with a significant Ann as a catalyst for a re-rate just over a week away (SM58 in production).
I could talk about G2 and other wells currently producing but best you do a little research yourself,,,,,wealth of info on the BYE threads and across the net.
