No. of Recommendations: 11
What are "Gross unrisked mean recoverable prospective resources"

I could say dreams. What they might have if everything goes their way from now on. So far all they have is seismic data, which is a not completely reliable view of the shapes of the rock structures under the ground.

Unrisked means no adjustment has been made for the probability that the rock structures that might be trapping oil, are in fact empty, or full of water. Recoverable means it's a guess at what could be recovered to the surface, given their educated guess about the nature of the underground rock that might be saturated with oil. Prospective Resources as defined in the RNS

If that sounds negative, I'm not. I have quite a large stake. This company is seriously undervalued ... there's a good case to be made that you can buy into the dreams for free, even after this morning's rise, because there's the very definite value of their production from the "Doris" well in Kazakhstan. That also gives them cashflow to pursue the dreams. Plus they own their own rig. Plus it's on land, which makes exploration drilling a whole lot cheaper than at sea.

If you know the Falklands Oil and Gas story, this is much the same, but on land, and at a slightly earlier stage. Ought to be over 100p/share on the dreams. Heaven knows whree it'll be if there really is oil down there. Charts of GKP and WZR may give you some idea.

My strategy is to hope for the share price to double or better before the drill bit hits the target. Sell half into strength, and have a free bet with the rest.
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