They've got 15% of a drill that will be completed this month on a 100-200 BCF prospect in Colorado. Secondary targets have up to 15mmbbls recoverable oil.
Just done a placement at 7c with one free attaching option excercisable at 10c in 2 yrs.
Market cap of only A$5m. Success this month could push their market cap up to around the A$20m mark imo.
Followed up by more drilling in July for a high value and low risk gas play in the Baxter sands in Greens Canyon.
Great entry at 7c with the free oppies.
DYOR.
Cheers, Butcherano.
FRV Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held