I think this will be just a short term hiccup up for them when we look back in 12 months time.
They have AUD 15m in cash shortly
A ripper project in Morocco with potential of 400 million barrels in shallow water........
Milligans and Nova in OZ.
And sounds like from the company they are having a red hot crack at some nice onshore dirt in Africa....
These bad boys onshore only cost about USD 3-5 m per well so the
She likes to call them the small little babies that the big boys dont look at.... only 1 TCF fields
5.8 TCF = 1 billion barrels of the sweet stuff from Texas
to a none oily this is still well over 170 million barrels of oil.....
USD 5 bucks for a discovery?? Just think Africa Oil TSX listed when they popped from CAD 2 to over CAD 10 bucks
The aussie insto market has not even looked at this thing yet in any great depth
The best oil and gas executive in Australia running the show as chairwoman, . she would give Anne Pritchard at Shell a run for her money...
Brent on the tools with reservoir experience... ex Apache
Margaret on the maps and 3D. Ex Inpex and Chevron
Max the man who vended the original blocks into a little company called Hardman... and we all no what happened with hardman when the poms came a coming and tullow took them out....
Steve Tomsic quite possibly the best oil and gas executive in Australia helping them out on the corporate side.... think JKA and CTP
All in all a cracking oil team... they just need time...
Please if you have another oil story in oz that has a better mgt team and experience finding the stuff I would love to take a look.
This short term bashing by inexperienced brokers/shorters with little knowledge should be ignored .... give it a few days/weeks we will be back on track....
TPT Price at posting:
31.5¢ Sentiment: LT Buy Disclosure: Held