WooHoo ,ADX hits.
https://hotcopper.com.au/documentemb...2FZ957FiGug%3D
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WooHoo ,ADX hits.
https://hotcopper.com.au/documentemb...2FZ957FiGug%3D
Been buying up VLE on the TSX producing 22,000+bbls daily at present and planning to head towards 24,500bbls in Thailand Light to Med APi oil
P/E sub -2!!!! could double in value and still be cheap Vs average O&G on the S&P 500 P/E Ratio is 11.78
Some CAD$200mill+ in cash puts their E/V @ CAD$200mill ... not very expensive Vs Reserves + FCF ..
29.2Mmbbls 2P Oil reserves ....94% of the YE 2018 2P reserves were replenished over the last 6yrs ...
Cheers guys ,now it's a nervy waiting game for ADX,to see just what we have commercially,I hope.I sold re a third earlier( too early ideally) to reduce my entry.
Executive Chairman, Mr Ian Tchacos, said, “The Welchau gas discovery has the
potential to yield an exceptional gas resource for ADX, its partner MCF and the Republic of
Austria. The results to date are in line with pre-drill expectations confirming the exceptional
geological and technical work by our Vienna team supported by local and international experts.
Over the coming week ADX plans to execute its success case evaluation program for the well
which will include electric line logging, down hole sampling, inflow testing and pressure
measurement required to confirm the reservoir characteristics and the hydrocarbon
composition. We look forward to providing further results on this potential play-opening
discovery as they become av
Oil stocks return you less while you take on more risk...
10 years ago I left the sector and never looked back...
No regrets...