Guys I really think there is upside upon upside of these two wells come off. I had good chat to the company and the completion of these wells will be much easier given existing well
importantly though Ven has two assets that may provide massive LT upside . The first is the oil prospects which already has 3d seismic . I have invested in the following cooper basin stocks in the last. 25 years BPt , Coe , DLS , INP , Stuart Petroluem , Senex, all of which grew through finding and monetising small oil fields . These fields are east to drill and oil is trucked , oil is sold at Tapis which attracts a premium and almost all discoveries grow through stepped out wells. Bauer for BPT started as a 1 m barrel fund and ended up over 15 m . I recall Reg Nelson pointed out when it was first discovered it will be much bigger and it is was. Even one small field can generate 15-20 m cash
The other asset is the joint asset in QLd with Comet where they have applied for a grant to fund one exploration well
so although the ST focus is on Odin , the oil prospectivity is huge
VEN Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
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