RE: RE: It's All About Sir Richard Wadsworth
Hey Chaps..
I'm pretty new to SNV , have been buying up kurdish oil stocks & now looking to Iraq for future gains.
You forget alot of big oil companies are looking for a footprint in Iraq. You have all the magors BP, Shell , Conoco etc paying absolute billions to get licenses to explore & produce oil in the region. even Ivanhoe heavy oil producer had previous contact agrements with Iraq with nothing materialising so shows that even then how desirable Iraq heavy oil was.
What Sonoro have done is secure exclusive ....yes exclusive rights to the whole of sal ad din Iraq for heavy oil.
Now geologically speaking Iraq contains billions of undiscovered oil & we already have discovered oil seeps in the region.
I suspect that with alot of past explorer's in the region they have historical finds oil seeps already which can be investigated. an example DNO in Kurdistan with the help of the KRG government picked tawke with historical oil seeps and now they are in the process of exporting 50,000 barrels a day.
So if the governace of Sal ad Din are behind Sonoro they will benfit hugely in determining where to drill & what to expect.
Now I know we do not have alot of cash & management team alone & wages will sap alot of cash we have. However I see Richard Wadsworth as a very canny businessman who has built up the likes of Bankers singlehandedly & will do the same for Sonoro.
Share price predictions will be 30 - 40 p until news flow from estimated resources. Then you will see some serious action if flow rates are good & we manage to get extra financing without serious dilution.
By sept I expect 65 cents ...