Community Contributor
Member since 2024
Views
4 Total number of views
Fair Values Set
0 Total number of fair values set
Comments
2 Total number of comments
Followers
0 Total number of followers

No bio added yet

No link added
EGY logo
EGY·EGY: Phase Three Gabon Drilling Program Will Drive Bullish Repricing
Their plan: upgraded ships, expanded non-exploratory drilling, and they are away from USA, EU, and just the Gabon reserves are 2 Bn bbls should keep them busy for a while. They like to be debt 0 but to expand production by a factor of 3-5 times, the don’t mind conservative drilling. Of course drilling a well is easy, completion is a bit harder. Obviously they know what they are doing. It’s great they are small, overlooked, if the get their daily production up by 5 times, it’s a screamer. Pure cash everyday. If I was management, I’d tighten my belt and buy. They should cut the dividend to pay off all dept and build up reserves of cash for global uncertainty is high. I have 82% of my small portfolio in this one stock. I wish I could get actual share certificates and put them in the vault and not look at them for 10 years. At $3.43 downside risk is? So funny my trading friends wouldn’t buy it, even when I told them I would cover their losses, that’s why they are traders and constantly broke. This is not silver but it’s a solid gold coin. I have my own oil well, 5% WI in Kiowa County, it’s been paying every month for 40years (yes occasionally maintenance) Ray Jacoby and Jim Emerson at Plano taught me well! Those are two of the greatest guys I know. Sadly Ray is gone but 40 years still missed!
0
|
0