Post by
billythekidd on May 31, 2022 12:15am
Finances
The red ink is not a pretty sight based on what this Company has accomplished in the last 20 months. One producing well that does not even flow into a pipeline. Trucking Oil on a current average of 250 barrels @ day. They need Oza 1 to flow into the pipeline to get that 1500 bopd of production. Just like they said that infrastructure was in place even for well test Oil to flow directly into the pipeline. With 900,000 of exspense for 3 months of 2022 for Consulting/ Offfice/ fees looks like a low financing coming with only about 400k in the till. It looks like they owe San Leon about 5 million at 10 percent rate. The lack of field development of Oza 1 and well still currently capped just shows how badly they have missed despite the crazy price of Brent Crude.