The choice btw VIL at 0.005 or ADX at 8.6 cents comes down to your thoughts on the balance of each company’s assets.
VIL 0.005 = mkt cap $9.43 m for 10% ADX 8.6c = mkt cap $37.69 for 40% So equates to $9.42 m for 10%
Therefore they are equal value.
However VIL Louisiana project looks troublesome IMO Very different geology there and some sort of a salt issue.
ADX have about 8 tenements in Romania, but it is only the most recently acquired one which is getting all the attention. It boarders Serbia and is said to be an absolute ripper in a proven area, and potentially much better than Sidi Dhaher.
From what I have read Dougga and Lambourka have major technical problems. Both are offshore and expensive capex, but the pay / potential reserve is said to justify it.
I hope ADX take the easy road to start with.
Actually I reckon you will be able to buy after ADX test flow Ann at a reasonable price and with the comfort of knowing the result. 1600 barrel / day would be good.
To me it seems most investors and brokers prefer established energy / oil companies that are trading at an obvious discount like Cooper Energy COE which also has a Tunisia major interest.
ADX does very little to promote itself, but I think that may change. Actually there is no pont over promoting as you just end up with peaks and troughs. As you say DYOR
ADX Price at posting:
8.6¢ Sentiment: None Disclosure: Held
