As I understand the situation TDO are likely to spud a well into a formation that is known to contain a very large amount of oil from past drilling (likely about $4 billion dollars worth) that was not produced previously because it was marginal at $20/barrel (2000 - so now prod costs maybe $30/barrel), and in addition could upgrade this to much more oil with an adjacent unexplored tenement. The SP has been sold down to a sub $70m market cap despite probable earnings of around $30 - $200 million dollars a year starting in a few months time.
What am I missing? Why is the SP so impoverished to the point of being ridiculously low. Surely this could go to $3-$10 per share once this well has proved up what we already know is there.
What are your thoughts?
As I understand the situation TDO are likely to spud a well into...
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Last
9.4¢ |
Change
-0.001(1.05%) |
Mkt cap ! $23.20M | |||
| Open | High | Low | Value | Volume |
| 9.5¢ | 9.5¢ | 9.1¢ | $5.351K | 56.33K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 300000 | 9.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 9.5¢ | 384001 | 2 |
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| Last trade - 15.31pm 22/11/2024 (20 minute delay) ? |
| TDO (ASX) Chart |
