Patience is needed hereThis has been a disappointing period in terms of the share price but not in terms of what the Company is achieving. The DHT works and no one can dispute this. RESULTS are what will count at the end of the day, there is lots of evidence to show that the results will only get better and better..
Since the DHT testing started the production rate has grown to in excess of 100 barrels a day....not bad for an emerging Company using its prototype DHT!! At $50.00 a barrel this converts to $5000 a day or in excess of $1.5 Million a year in Revenues!
The Company is anxiously awaiting the delivery of 8 new second generation Down Hole Tools that were ordered in June, the deliveries of which are expected to happen sometime this month.
From a shareholders point of view it is easy to blame the Company for the time it has taken the Manufacturer to build the New Generation DHT's . I understand the Company is doing everything within its powers to hasten the delivery. I believe this will be the month when delivery starts.The Company will then be able to move forward on increasing its Oil production and moving closer to the commercialisation of the DHT this I believe is their ultimate goal.
So what has the Company been doing in the interim period prior to taking delivery of EIGHT new DHT's ? The answer to this is that they have been PLANNING AHEAD and have been acquiring properties and Wells where they can use the New more advanced DHT's when they are delivered.
People can paint a picture of doom and gloom here but they are not dealing with reality as the FACTS clearly indicate that a lot of PROGRESS is being made and the share price is an INSULT to what has been accomplished.
With current Annual Oil production Revenues of $1.5 million using a prototype DHT ......people should ask themselves what will those revenues increase to 3 months from now when EIGHT more ADVANCED DHT"s are being used on Company properties?????
We could IMHO be looking at Annual Revenues of $10-15 Million within the next year and there is logic to support this statement.
IMHO the shares are an absolute give away at these levels and in no way reflect the value that has already been built into the Company.
GLTA