We certainly have not hit the "dream bucket" and oil reserves of up to 9.7 million barrels are now out of question.
However, even a never "modest" success of a few hundred thousand barrels of recoveralbe oil would turn this baby around.
+ The exploration costs are well below average due to the utilization of our own rig
+ the market cap of CIG in australia is only 15+ Mio, so if we can get 50 USD per barrel after operation and production expenses.... even 200.000 barrels would pocket 10 Mio!
+ Our sideline gold exploration is doing rather well but it went almost unnoticed by CIG sharholders
Lets keep our fingers crossed that the flow rates are reasonable.
Good luck to all SH: KM
CIG Price at posting:
12.0¢ Sentiment: Buy Disclosure: Held
