Important to note that the fusselman wells to the south are producing anything from 130 to 480 barrels. Anything above 200 bopd would be a tremendous outcome for shareholders and see a re-rating of the stock.
When target was trading 12.5-13c, it was on the back of a likely producing wolfberry well at BOA. Then the technical difficulties came. However these have now been sorted, and would never have found the devonian without the large frac that led to issues...and we now have a producing wolfberry/devonian well at BOA (hopefully cica 100bopd) and now a potential productive fusselman well at Darwin.
If TEX was trading 12.5-13c before, it should be closer to 20c if fusselman comes through flowing commercial rates.
Just my thoughts
TEX Price at posting:
7.8¢ Sentiment: LT Buy Disclosure: Held
