A question for you STPVYou said many times they are producing (and behind the pipe) 1000bpd with 12 wells.
Do you mean that each well is producing only 80bpd ????? (after following more than 200 oil companies it is the 1rst time I see a well flowing at less than 200bpd)
I think this is one of the reason of why this stock can't have high valuation now. Their wells flow at ridiculous rate. .....
For instance TAG oil in NZ just release their last well it flow at 1900bpd. Tethys petroleum its well on their dorys field flow at 8000bpd. Both have cost close to $2 millions for the well. TAG said that the well will be paid back in less than 14 days and the oil is sold at premium to brent price.
So I think their main problem is their flow rate are ridiculous and in the same time they can't sell their oil at world market price.
What's your take on that ????
Best
Julien