|
|
Turkey
|
|
||
Re: Trillion on Crux TCF?Promotional is exactly right. I've been running a spreadsheet on Trillion. Bought and sold a couple of times (currently not holding). These are known fields that he's been able to "long-reach" for a mere $9-11 million. Stacked, so as one layer is depleted, for another $1million go to the next. Every 35-45 days they are bringing on a new well or recompletion. From my calculations they are losing approx $2m a month, from disclosed spending. The undisclosed is the processing of data and greenfield studies. Annual declines nearly 10%. n.g. is sold to the Turkish authority, BOTAS, which sets the price monthly. Currently $17 and expected to be $12 in a couple of months. Last December they paid $30. The enterprise could be break-even in Sept/Oct as production rises (dramatically) meets the expected n.g. price rises. The big potential upside is in 2024 as they take a look at the greenfield locations. In the meantime, highly volatile. I suspect that when 2022 results are published there will be a sharp pullback as analysts digest the robust spending. |
return to message board, top of board |