Taking the Mitchell #3 and #4 completion success into perspective last spring and when at the time there was a lower AS/OS; how did the market and PPS respond? The historical charts show the PPS had days of sub penny from March 5th-May 3rd. Stocktons/Kubacaks allow for 75% NRI compared to Mitchells 28% NRI so that should spark some additional interest but the AS/OS is now higher. From 9/19 PR: "Based on the Mitchell's production rates, the Stockton wells combined are expected to bring in approximately $205,000 in revenue within thirty days of completion." If the market is forward thinking then is the $205K from the Stocktons plus another approximate $122K (42BPD X $97/barrel) X 30 days) from the Mitchells 3&4 playing into the existing volume and PPS? If I know these numbers then any interested public also knows these numbers. I question if the market hesitation to buy shares in volume has been based on disbelief in the 9/19 PR due to the past. The PR has been public for 1.5 months and yet the PPS closed at .0125? Per the PR wording I question if the logistics from time of Stockton 2&3 completion dates to filling tanks to pickup for delivery to $205K check payable to TECO can really be completed within 30 days of Stockton #3 well completion? It's this type of aggressive wording and the possibility of it not being achieved within 30 days that will give more excuses for the market to pause. I hope I am wrong and TECO receives a $205K check within 30 days of the Stockton's completions. Volume precedes price and I don't see the required volume yet but I hope the five drilling completions and resulting BPD finally gets TECO out of the pennies.
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