RE: RE: RE: Producing 700 bbl/d BB, I no longer predict bottoms of these speculative stocks. Your guess is as good as mine. Looking at some past and current valuations may give us a better idea of what we can expect for a reasonable exit point .... for at least a portion of our shares.
At its peak (2006): Candax Market Cap was: $1.75 x 160.3M shares = $280.5 million (Largely due to higher production rates, and Chaal test well hype)
Today, Candax's Market Cap is: $0.035 x 1,068M Shares = $37.38 million
Looking at your sell target of $0.10, CAX Market Cap = $106.8 milion
To achieve this valuation, I would suggest that CAX needs to double it's production, plus have solid plans to execute the deep triassic test wells. Of course, my opinion only :)
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Can't disagree with your logic and maths my friend. Will admit that patience is running thin, and frankly one reason I'm adding is to reduce my cost as much and fast as possible - and hopefully still come clean selling below 0.10¢ eventually if I have to.
Getting there; cost I should admit is already below 0.10¢ but still in the red......new funds coming in soon and might swallow a large chunck that time around....rounding up sharecount numbers in multiple accounts.
Stuborn as heck some might say, but I definetly do not want to take a loss in this - even more so given the majority is held in accounts that would not allow to grab the capital loss.
So - as the share price keeps closer to the bottom of the barrel, I hope to add and hopefully enjoy some luck with futur price appreciation...what ever that ends up being.
We should hear soon of EZZ 2 and EZZ 1 - EZZ 2 is overdue.