Just been a bit quite on the TTE forum, I must say I am guilty as charged! I haven’t had much to say since the last update.
In the last 3 weeks, I have had the pleasure of detailed discussions with my brother in law who happens to be a Geologist / Hori well consultant for Conocophillips in Canada – a true O & G expert. I was quick enough to share the last 3-4 months TTE announcements. I am pleased to have enhanced my confidence based on an expert’s perception. He confirmed that to be able to send Oil tankers to the refinery within 2 weeks of an oil discovery is indeed a great sign. I am not sure if TTE mentioned the API of our light crude but my ‘BIL’ was quite excited to read about this 68 ft thick sand zone and its potential across the TTE acreage. I will share more information when probable.
As Tui has indicated in the past, these Salt Domes are fairly tricky to drill. When management say they are learning (a lot more) every time they drill - that is a great achievement in its own. It must be noted that AD North and South WI were increased after the drilling campaign started. Not to mention the acquisition of AD East that happened recently is a great sign of confidence from management and their belief about what’s down there. Although the issue of flow rates has been discussed time and again, one thing I am fully aware of that they are targeting the same 68 ft thick sands and extremely committed to hit the TD this time round.
Agreed bcsiles, SP has been a massive disappointment to say the least. I have also held for more than 2 yrs but hey that’s the share market. At the top of my head, TTE has traded more than 450 million shares in the last 3-4 weeks and hopefully people looking for a quick buck have already bailed out. We couldn’t be too far away from a decent rise! Hang in there.. if anything FT have improved for TTE – we are producing – we are targeting the proven sands – we have a great management that understates and over delivers – we will achieve 700 bopd + in due course IMO – SP will reflect soon I am hoping. Nonetheless, in the past 2 weeks, I have topped up at 0.013 and 0.012 – time will tell if I was SMART or a FOOL. I Believe..
GLTA Cheers VoM.
GEV Price at posting:
11.0¢ Sentiment: LT Buy Disclosure: Held
