Re: Oiljack Loading the Truck with GTE Shares?
You used to have such an appetite for exciting oil stories. What happened? I remember you were one of the chief posters when we all made big money with Coastal Energy.
In certain ways GTE reminds me of Coastal. Much more exciting and interesting than most of the domestic names. There was an old man here who said he chose to go in "with gusto" just one name, in that case Coastal, because he liked the thrill. Those were good days with Coastal.
Now GTE just 3D mapped the Putumayo, has all the fields waterflood with imminent production responses, Acordionero has been significantly expanded, FCF AFTER all development and exploration capital is projected beginning next quarter, and GMT can't stop buying and believes it's a US$8 stock in a few years. From last year's reserves report:
The Company's WI Mean Unrisked Prospective Resources as at July 31, 2018 were 1,419 MMBOE, including 822 MMBOE in the Putumayo Basin A-Limestone play
The Company's WI Mean Risked Prospective Resources as at July 31, 2018 were 361 MMBOE, with 59% or 214 MMBOE attributable to the Putumayo A-Limestone
The A-Limestone represents a potentially substantial future conventional resource play for Gran Tierra, which the Company believes equates to 1,429 prospective drilling opportunities