RE:RE:Shorts compounding low share price Don't hold your breath for a big reserve report uptick.
Forecast pricing has natural gas up 15% and oil down 20% in the near term, and I don't think last year saw much drilling outside of Inja which was sold.
Last years reserves were announced Feb 20. It was broken down by property so you can get an idea what is left and infer this year's values.
Id guess
PDP at 250mil (1.32/shr)
TP at 400mil (2.12/shr)
2p at 800mil (4.20)
Plus 600 sections of land value.
Drilled up there is tremendous value at a proper oil price. Might not happen overnight though.
An easy double triple? Who knows.
Seppelt wrote: What are you expecting from the reserves announcement? The co hasn't done a lot after selling its main producing asset.
The management has said that it will negotiate and arrange a sizeable line of credit. This will be needed if it wants to develop remaining assets to quickly restore production sold and more. Alternatively, it can sell some non core assets. It has too many loose sections everywhere but probably not the best time for selling as there are few buyers willing to spend cash. I trust, the management is experienced enough and has a good idea and plans for the future. It is also very opportunistic and flexible.
In the meantime, markets are taking a break giving bulls a chance to accumulate this or many other stocks.