RE: 100,000 BOPD? Lofty goal and certainly an interesting Corporation. Viable assets it woud seem, and indeed enormous needs in terms of Capex funds.
Second time around for Tinubu to show up in Toronto and no doubt in anyone's mind I am sure that the goal is to raise interest in the Corporation.
With only ± 6 Millions free floating shares, the share price is artificially inflated in my opinion. Furthermore, financial clarity is highly anticipated from their First financial reporting documents (post RTO).
Certainly has the potential, but no doubt in my mind they are planning a Private Placement to raise Capex funds. Even if they were to issue 100 million shares, this would still be an interesting play considering that ~ 95% of the existing shares are held by Oando PLC.
Wait and see at this end for now and hopefully if they do a PP and issue associated warrants with it, they do it at the same cashout level as the existing one or higher ( $1.50 - 1 year and $2.00 - 2 years). None the less I'd be insterested in bitting into the PP from first brush at this - looking forward to the Financials and enhanced MD&A.
Certainly an interesting story that's for sure.....to be continued