RE: Africa Oil (AOI) AOI have a $1.8 billion market cap and have yet to have even a drill stem test on their oil well results.
UMU-9 had far greater intercept pay than their discovery well, yet their market cap is more than 4 times marts.
It is a well promoted drilling play and no doubt their drill results are excellent.
But, no production tests, no production and a balance sheet that is goof but not great, it is a very risky investment, with oodles of future production growth built into the current market cap.
Not so, Mart which has little of its demonstrated potential built into the current market price.
With
.30/share in dividends coming to us over the next 12 months ( 26 % of the current share price ), Mart is a compelling buy below $2.