RE: Does this company even exist Very good question - serious or not.
This company - or what is left of it - is simply now a vehicle in which the creditor can
get its money back and then some. Otherwise it would not exist.
How much oil do they have? Not much.
A few million blls iis known for sure if - if - they can get at it and bring it up.
Maybe they can get it but have failed to do so in the past - big time failure.
Best case senario - they achieve - maybe - maybe - 1500 blls/day.
Long way off and not a certainty.
Are they drilling now?
NO.
Somehow - again - there was a problem - with Robanna taking so much time and is
far from complete. Supposed to do a workover on Robanna 1 - completed - results unknown - and
then drill more wells there and increase production - not done.
As you can see the sp has moved off its low but not by much.
6.5 cents sp is based mainly on speculation.
Sp cannot go up much as they do not have much and -
over a billion shares.