Charles Taylor Group Plc V.MQL

RE:RE:RE:Dundee sells 679,000

[sunnyboy11]

Jenny, thanks for the excellent reply. I'm a new owner and am attracted to their strategy and recent results i.e their asset sales which could be used to bring down debt and capitalize drilling in an emerging Hz light oil play. Excellent production rates from new drilling at Michichi. Large undeveloped land base. Focus on light oil.

With the oil price where it is, they'll likely be reporting a better 3rd qtr with an improved debt/cashflow ratio and balance sheet in general.

The big variable is the success of their near term Hz drilling program as a whole at Michichi. If they can follow up with prod rates mentioned in their last presentations and bring drilling and completion costs down by not having to frac, their return on investment could poise the stock for some strong growth.