yes, well if u dont like it best turn your back and walk away.... meanwhile whoever manages to pick up shares or options at these levels will no doubt be licking their lips.
just look at the potential upon completion and work out where this is going....
1st hole at Raven will be flowing at anywhere from 1000 to 2000 mcf per day...at $5 per MCf thats US$1.8million to US$3.6 mil per year cash flow...for the first well alone!! In addition there is expected to be additional condensate ...up to 40 barrels per day which only adds more to the cash flow....
If all 10 wells produce in the same fashion it is not hard to see the upside from here using a price earnings multiple of 10 or thereabouts... and then you can add the outcomes from Turner Bayou, Atocha , Kestrel etc etc...
its not like this company is pinning its hope on the outcome of one well... there is alot happenning and it all takes time to unfold and convert to dollars in the till... and no wonder it is so fiercly competitive over there to aggregate leasing rights. in case you are not aware its not like they sign one lease agreement with one landowner and start drilling... to aggregate these leases involves dealing with 100's of small and medium landowners and securing them all over many many square kilometers... so if they are reluctant to release info in the short term for the sake of securing greater acreage in the long term i can rest with that...and quite easily ignore the short term shareprice that only reflects weak punters bailing out through lack of patience/ understanding/ balls.
cheers to all u long term followers!
see you
Add to My Watchlist
What is My Watchlist?