ARDEN price target ----------------$.41 to $1.51Daniel Slater, CFA at Arden Advisors sees $1.50 valuation based on 10 well program for the Tapir Block over the next 24 months and getting their hands on the Oso Pardo extension.
Further to the Tapir licence, they have also stated that a holding company 100 % owned by partner Petrolco, presently retains the licence for the block. As insurance, Arrow also holds a cost-free option over 50 % of the shares in this holding company, which on exercise, would see Arrow holding the effective 50 % in the licence they are reporting. Somewhat convoluted, but provides security until beurocrats get things done.
Tapir drilling is about 1 month behind schedule, but hey, covid delays and Christmas In Latin America is a drawn out process.............still reasonable !
Reviewing other low hanging fruit projects, but haven't been able to tease out how close they are to getting something new into the company. Same thing regarding JV prospect with the Pepper property..............it's just wait and see............as I am happy to do...............knowing they have many irons in the fire to create shareholder value going forward.............these guys have done what they have said ..............this is most important !!!
Awareness campaigns are being planned for the spring with details to come !
All in all......oil and gas.... a good place to be during all the volatility with over-hyped stocks out there................... that are presently taking a drubbing !!
GLTA