very cheap on current reserves alone

Nathanblack

With only 115m shares on issue and an MC of $57.5M and 35 million barrels which could be 70m when the other permits are drilled ...we are currently valued at less than $2 a barrel...most producing oil companies (export prices ofcourse) are valued at $15-40 a barrel... I don't think our drills are expensive compared to shale oil (eg horizontal wells can cost $12m and only give you 300 barrels if your lucky with massive declines)

WE have CONVENTIONAL OIL here and can double our reserves soon ...we now have 1700 barrels a day capacity that is excellent and we will get export lic. (soner than u think) as we have the ex minister on the board to speed things up.