Post by
rCheung00 on Jul 12, 2018 7:51am
2 big news events to expect
As you all know the 2 events coming up likely this month or latest next month are:
1. contract migration (need to see royalty terms)
2. upper jurassic drilling/test well
These 2 events are sum of ROE. Everything else isn't a game changer.
Sit back and wait for the drill to turn and once you see the results then this stock is going to explode if the results are good (and blow up if the results are bad)
If you want safe and steady returns with dividend go buy Exonn but if you want 5x/10x returns in a short period of time then ROE is the play (risks involved but also actual realities that this has a chance to be big)
Just sit and wait - nothing else to do.
Comment by
biscuits11 on Jul 12, 2018 8:26am
Agree. But with one clarification. Let’s say they spud the hz well in August. It usually takes 3mos from spud to pop (placed on production) and then another 1-2months before you will get IP30 rates. I’m not expecting any results from the hz well until December or Jan. Might be a month earlier because a vertical portion is already drilled.
Comment by
demaule on Jul 12, 2018 4:11pm
Agree but one more clarification...migration is not assured this month or next. After reading this article I am thinking it could be several months. Note that the item is over a year old and the final paragraph offers some hope for a faster resolution. https://www.mondaq.com/mexico/x/592442/Oil+Gas+Electricity/EP+Contract+Migration+in+Mexico