well ya know.....what an asset... 2.5% GOR on what might well be the best oil field and now, the best oil fairway & a not too bad wet gas area.... to own an outright GOR over that is worth coin.
In the hands of some uninvestable, selfish, selve serving two wannabe's with just enuf oil and equity knowledge to be dangerous... yep, check.
Beach wants it... they want that 2.5% back... of this huge company maker find! Grew sleepy Beach into one of OZ's mid sized gems.... huge cash flow.... huge free cash flow.... no debt.... all from, initialy and largely, the Bauer OIl Field, and now lots of other high return, cheap oil and gas. We have seen wells IP at 400-3000 bopd... lots of wells did that... lots of cheap oil... the field is at half life now... but new, well, known, but less mega-lucrative horizons. Thinner lower perm, but high pressure Birkhead is a new target of Beach at pel91. when they can produce oil at $5 at Bauer... so even it it doubles to $10 a barrel? ain't cryin on that!. Finally...new to Oz!!!-- not really... new to Beach, horizontal wells! Now huge flows... 3000 bopd from a less productive horizon than the Namur Sandstone at Bauer. Beach has just rolled out horizontals with 5 the prior year, maybe 20 this just ended year for them.... but they see the benefit on the Western Flank... where that GOR apllies... Owning a no cost 2.5% royalty on this whole friggin area... thats something... its worth way more than the $20 mill market value, $30 in shares ex $10 mill cash...but to understand why it might be under valued? we would get back to that being in the hands of.....stuff .... friggin selfish.
Time for it all to go... This is like maybe the high point... maybe going into recession.... might not enjoy yer $25 mill... rather sit on it?... collect half a mill for signing the royalty cheque and handing to the financial one... probably under yer desk...
don't be a fool, agin... and agin, through your less than reknowed career of disappointments... algeria? that ecko well in cali? Ireland was great too... nice visit? ya lucked out fool... cash out...geeezzz