Why is this co. public? This might turn out to be the best thing since 2-ply toilet paper, but 'til then it sure has some information deficiencies. Tried looking into recent history, and found a lot to be desired in regard to keeping investors or potential investors up to date.
On Oct. 18, the company advised that a drill rig was being mobilized to Bug-1. Since then, squat.
On Nov. 14, the company advised that a rig was moving to KN-NE-1. Since then, squat.
Then we have an oil discovery Feb 5 at a totally new location, Kiyak.... Actually, 2 oil discoveries it seems. One at around 1400 m and another at some shallower depth.
Most Canadian companies with 400 b/d production tell you when the CEO passes wind and the methane/ liquids composition thereof. In ZapUstan, there seems to be a different view of what constitutes material news. In the presentation I see reference to a pipeline being built to China, only 70 km or so from the Merval property, which was for sale at one time or another. The unspoken nudge/wink is maybe we'll sell a bunch of hydrocarbons to China, someday soon after we send out a search party to discover what Bug-1 discovered. There must be a dozen lottery ticket kiosks within 1 km of my abode, yet all kinds of banks fail to recognize the value of my proximity to a potential windfall. Strange, no?