Rig is on the way to Nambia: Arrival December 10, 2020For those who are new to this stock, the rig left Houston and is on the way to Nambia.
It arrives on December 10, 2020.
Drilling will be end of December 2020 and results will be end of January 2021.
Purpose of drilling: Is to be confirm rock formation in the basin
Why?
Because it is the source rock that releases the oil, if you have the right rock in the basin then you have an ocean of oil with it.
How much oil?
Conservative Estimate on only 12% of their land is: 120 billion barrels of oil
When you account the other 88% of the land the number become so big that people will refuse to believe it.
What price can we expect: $ 70 to $ 125 per share
After hole 1, then 2 other holes are drilled in Q1-2021.
In Q2-2021, the company sits down with MAJOR PLAYERS and will work out deals as land is so huge.
The oil in place in Nambia will dwarf the oil that is in Saudi Arabia, we will be the BIGGEST.
MPO