Drilling Intersects 240m of Oil, page-112

sector lead
I think I sit between your view and those who are excited. As you know I was one of the early vocal critics of this company and they have destroyed alot of wealth, but the price today is post that destruction and the company is recapitalised and should be viewed as a junior explorer. In the oil game as you know one good well can change the fortunes of a company , as Bauer did for DLS , as callawonga did for cooper energy. So although it is early days , it is possible they have found a very nice pool of oil that may generate cashflow and make them self sustaining for years to come.
It does seem like its a decent find and at this market cap and SP is a very decent bet. A 1.5-1.8c SP would be a Sinch on confirmation of good flow rates. Not yet locked in but there is enough on the announcement for a fair bit of positivity

On a TA note the huge volume and close at its high suggest a very high probability of another decent day tomorrow 1.2-1.4 is my guess