CODThe upshot is that recompliance risk has been mitigated and...

COD
The upshot is that recompliance risk has been mitigated and the register is tightly held.

The Company will be shooting seismic in the near term, with results early next year likely to re-rate.

Discussions with potential cornerstone investors and farminees are also ongoing and may provide surprise catalysts prior to that (although there is no visibility on this).

Additional licence award is also likely over the next few months.

RECAP
The Company has 100% of a highly prospective licence where there is an appraisal-like drilling opportunity.

So technical risk is lower than the peer average but the upside multiple potential is the same or better (i.e. success at only one of several prospects could add $400m to the market cap).

It is onshore Ukraine, which investors are not typically au fait with but the business environment is continually improving and there has been some very big deals done by majors in country recently, which illustrate this.

Gas price is also very high US$12 per mcf, with net backs of 50% - so fiscally it is highly attractive.

Worth keeping an eye on at the least and if you are looking for beta in a market where "risk on" is not a dirty word any more then this is it.

The Next Oil Rush has just started covering this stock as have Foyil Securities as per the attached.

http://www.nextoilrush.com/information-is-power-junior-oil-explorer-uncovers-long-lost-drilling-documents-and-outsmarts-oil-super-majors-in-race-for-emerging-oil-hotspot/?utm_source=SDMO