Seems like a solid appointment to me. This guy should have great knowledge of the area, the people/customs and I guess he is well known to Tony too.
Expecting May+June to be record months of production, if not then its hard to take what management say seriously going forward. Should definitely be ~700 this month or higher and hoping for 800 worst case next month and to keep those levels going forward. I watched the recent presentation video and Tony seems hands on and motivated to get things done after a hard few years.
The company Seems very undervalued based alone on expected production.
Add in upcoming drilling at fairly low risk prospects, possible quick bolt on acquisitions that can be brought online quickly, potential for oil price increases and it was good enough for me to buy in.
700/800/900 BOPD estimates, please correct me if my figures are wrong.
700 x 328 days (10% downtime) = 229k bopy.
229k x $35 (profit per barrel) = ~$8M USD = $10.6 aud = $5.83 (55%) profit
800 x 328 days = 262k bopy
262k x $35 = $9.2M USD = $12.18M AUD = $6.7M
900 x 328 days = 295k
295k x $35 = $10.3M usd = $13.65M AUD = $7.5M
BAS Price at posting:
0.5¢ Sentiment: Buy Disclosure: Held
