I am inJust bought 60k at average price of 1.06
We should find strong support at $1 I think then we have the testing in april.
I think it is time for people to load up the truck. Tax loss season is almost done. So down pressure are almost over.
Don't forget we have 11.5 million net acres of equivalent Bakken look like. This is massive. If we can crack the code (big chance as the permeability and porosity and TOC are equivalent or better than in the bakken. We can look at easily 20 billion barrel reco according to my computation.
In australia fiscal term are great so expect a value of $20 per barrel. So we have more than 50% to be the next exxon. I think this is a lifetime opportunity.
On top of that we have packer plus technology used (which is considered to be the better techno) with the schlumberger team making the fracc recipe. Oh my goodness
We have enough money for completing those 2 testing plus at least another well.
Last drilling had been a success technically with everything looks promising
Plus insiders buying at north $2 as heritage
Plus rumor of a farmout
Plus no debt and our market cap is only $65 millions. I have never seen such a cheap share price considering the tremendous potential with a moderate risk.
You should hurry up to buy now this sale will not last......
Best
Julien