Josh Smith is only writing what he has been told by ATS Executes I would think. He makes it sound like a start up company. It has been going for more than 5 years. No mention of desperate need of partner to fund next move or previous poor drilling program. What about diminishing oil flow from existing wells. Portugal? Suggest Josh Smith does some research or was that a marketing advert? Recoverable barrels? At what price but!!!
A bit of balance may be in order here. 38 wells at $15 mill per well (my guesstimate) producing 1300 Barrels a day equals an average 34 barrels per well each day. Dare I say some of these wells would be dribbling now days. I will let you do the sums in regards to payback timing. It is easy but confronting. It is amazing how you can spin a story by the careful creative use of words or be convinced if you don't do your research. I suggest Josh Smith writes a follow up article after having a good read.
I notice Josh didn't show the 1yr or 5 yr share price graph. Australis is poised for major growth as long term investment states Josh. How can he make that judgement based on the history of ATS and its current cash position particularly when you consider that they cannot afford to drill 1 more well without risking any future forward fiscal manoeuvrability.
ATS Price at posting:
4.4¢ Sentiment: None Disclosure: Held
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