RE:RE:SOThe fact that CEO intentionally in my opinion neglected to mention current production levels and revenues with the 3 producing gas wells,...should be a concern. In addition, he failed to provide any comments and update with the on-shore oil prospect with their earn-in agreement with had an initial earn-provision to spent $4mm u.s.dollars by the end of December 2023. This I view is major concern and a red light to suspect CEO ...Halleran is not forth right with its shareholders considering he is reporting on a corporate level operational update..Release was lacking many important operational aspects of key assets and hasn't really given the public any real update...only reiterating the old past hyped up future estimated forecasts with all 6 hopefully producing wells. So, shareholders have to ask themselves...WHY!!!..where is that important update that was omitted. NOW, whether this is a buy at this time...THINK NOT...CEO has stated that he has pushed timelines 3 months forward and I'm sure we will not hear from that man again for a while...Soon CEO will have to come to market to raise more money, and at what share price..maybe .06 cents...or so, and again creating a massive, massive dilution. So for anyone to think current share price is a bargain and for sure highly risky...Its foolish for anyone to get involved with this play..In my opinion, company has failed miserably...but CEO, has stated continuously his success and delivered on what he had promised with his 6 successful gas well drilling...Problem is those wells are experiencing serve water problems and may not be remedied...and that's maybe why they were never previously explored by others and it's predecessors..knowing very well the SASB gas field and its reserves were not feasible for sustainable production and the field itself was worthless...Thats why CEO managed to acquire this block for $2.5 mm dollars and exploited and convinced the market that he had the skills to bring significant value to shareholders...NOW WE KNOW the true, as we can see the problems brought to light and is very evident with its declining share price with a current market valuation of less than $15 mm...how pathetic is that...
I WOULD THINK TWICE on this play...Just My Opinion...based on that corporate update!!! Good Luck to anyone getting into this play...Maybe a miracle can happen, you never know....