RE:Huge upside: "Basin Axis Play"!Very interesting indeed. When I look at slides 25 and 26 all I see is more potential. Lokichar keeps growing and appears to be much larger. I expect a significant increase in reserves. There is just so much more acreage to drill.
In terms of the selling price of 12-14, there was no formal offer on the table so it is nice to say we would take that price. Fact is that nobody offered it. You can criticize management for not raising a bit more money but hindsight is 20/20.
When I look at the presentations, the 2.60 price makes no sense. I am happy holding what in my opinion is a very undervalued stock. Keep accumulating when I can. If they do open another basin or two, which in my opinion based on the acreage is possible, 12 - 14 still might be too low. That is my opinion and I will keep adding here.
Truthfully, I am shocked that no one is low-balling an offer in the 5 - 7 range, and I hope it doesn't happen. It it does happen, I will take shares of the other company because I think that Kenya will be a major low-cost producer.