Quote from Peter Strachan's Stock Analysis released today:
'Drilling in Tanzania without success, Italy and Suriname. Looking at projects in Italy. ~10m cash post drilling High risk HOLD.'
That's enough for 2 wells in Italy, each costing 3M says prospectus. Prospectus also states previous permit holder ENI (while Po Valley was under ENI monopoly) delineatad a Villa Fortuna - style shallow gas and deeper oil play in the south-western corner of the permit.
Pheeeeeeeew!
final cash situation
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