Personally I'm hoping it drops back to 20c even 195c so I can get more, although bought a pile back at 16c, however want more. Think the new management team change was needed and a good step in the right direction, also other new local senior staff have also been employed another good move and all this has had a revitalised effect on HOG, given a new outlook which has been seen in the rise in sp. Latest presentation was good, positive and showed their enthusiasm. They have stated they are fully funded for all the work during 2012 which includes...
.the gas plant commenced late 2012 .20 year soro production license .extension of chets exploration license .soro 3d seismic and interpreting .more testing on chets license .thru to q1 2013 the tie in of the new gas plant to soro.
The results from the siesmic are due out mid april and a further independent resourse study due soon. They have also said the political climate has improved in the Ukraine so, with the urgent need for the country to become self sufficient with the gas, this is bringing easier access to importing equipment which from the sounds of it would be more modern and also increased the ability to use improved techniques.
The revenue target for 2014 is $100m with the production target for 6500 boe/d by q1 2014 from soro block 110 alone, so plenty there to keep things moving and we will possibly see the sp shoot up on every bit of good news and imagine management will do all they can to keep news flowing thru.
If they can also keep things on time, not months overdue as has previously occurred, this also will be another positive.
HOG Price at posting:
23.0¢ Sentiment: LT Buy Disclosure: Held
