Last week I suggested this company was undervalued after striking oil at its GC2 well. Net pay was 36 feet. Todays announcement appears to strongly suggest that their targetted zone is dwarfed by new oil bearing zones that they had not expected to encounter. These new oil bearing zones total 190 feet.
190 feet! Thats a serious accidental discovery! As previously mentioned at 15c the whole company is worth a paltry $30M.
Market still fast asleep.
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- appear to have stumbled on major oil play
appear to have stumbled on major oil play
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