MilestonesSigning the agreement and subsequent JOA (the partner would be quite inclined now that they hold a controlling interest in SNV) is the first milestone and the biggest hurdle to overcome. That is why it has taken so long. Indo monkey partner is clueless on both and needed to be properly counseled (step 1)
Once this happens then the rest is set in motion, we already know that these wells are capable of 1000's of barrels plus associated gas production, it has been announced that the partner and SNV will be restarting these wells before end of year, we know there are at least 10 wells to restart - so do the math (step 2). The next step is the reserve report which on the previous books amounted to 100's million barrels, then add gas resources (step 3).
Insiders hold majority of this stock and will not be able to sell at least until the vote is held, same with monkey. Available float is low. Monkey will tell other aps to buy to pump his chest and attrack monkey mates.
Step 1 being the biggest hurdle will send this stock over 50 cents a share.
Step 2 - 5,000 bbl/d is likely worth half a billion ($2-4/share)
STep 3 - reserve report billion barrels oil eq ($8 share)
Likely buy-out $2- $4/ share.
After step 1 easy upside to be had as the ball will be rolling in the right direction. Many have said this is to happen this week, guess we will see who is right.