Drilling in SeptemberI just found out that they are starting to drill a well in September and that they are expecting production of 1,000 boe / day from that well. They expect to exit 2010 producing 1,500 boe /day.
The latest presentation is very interesting:
https://www.tagoil.com/pdf/TAG_Corporate_Presentation_08-2010.pdf
They also have a plan for 4 other wells that are also expected to produce 1,000 boe / day. I wonder if the market has been aware of this info and if it's already priced in? I'm interested to know how many of you were aware of these details?
Technically the stock is on its $2.50 support and the next stop is around $2.20. Markets look bearish so it would be a good time for the manipulators to start to shake the tree to get cheap shares before the results are out. Or will the SP start to move up in anticipation of the results?
My back of the enveloppe math gives me a value of $1.50 / share for each additionnal 1,000 boe / day of production.
GLTA