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Decklar Resources Inc V.DKL

Alternate Symbol(s):  DKLRF

Decklar Resources Inc. is a Canada-based independent international oil and gas company. The Company is focused on low-risk appraisal and development opportunities in the West African region. The Company is progressing operations at its Oza Field, which it holds its interest through a risk services agreement (RSA) with Millenium Oil and Gas Company Limited. Oza is located onshore in the northern part of Oil Mining Lease (OML) 11 in Nigeria's Eastern Niger Delta (Abia State). Its Asaramatoru Field is located onshore in the shallow swamp in the southern part of OML 11 in Nigeria, which is located about 40 kilometers (km) south of the Oza Field. The Asaramatoru Field is located in mangrove forested terrain. Its Emohua Field is located onshore on dry terrain in the southeastern part of OML 22 in Nigeria. The Emohua Field is situated approximately six km west of the city of Port Harcourt in Rivers State and approximately 30 km west of the Oza Field.


TSXV:DKL - Post by User

Post by billythekiddon Aug 05, 2022 12:24pm
190 Views
Post# 34874424

Epic Failure to Launch

Epic Failure to LaunchDespite Brent crude up 30 - 40 % from August of 2021 we have traded down from $1.20 a 70 percent loss. Management has completed one well re-entry in two years with no new Horizontal drilling. We had OZA1 completed in Nov/2021 but management could not find a way for Oil to Market until July of 2022. The stock started to slide when OZA 1 did not come on stream after the completion in  November  2021. Management stressed in News releases that the infrastructure was in place for OZA 1 to flow shortly after re-entry only to find out they did not even have a crude handling agreement. This was the first big Red flag other than delays for the well re-entry. The market quickly lost trust and now we sit waiting month after month for a sign of new Oil from any of the three fields. Management has big salary but what have they done to increase shareholder value? The Oils have really bounced back this year but Decklar has failed miserably and bucked the trend. AGM front and center time to vote !
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