Has done very well. Been increasing on 2 primary themes. 1) Junior Colombian names have been very strong recently and 2) appear to have made an oil discovery where net oil play was significantly more than expected.
Disappointing result when they had a secondary zone come in on prognosis primary zone didn’t produce what they were hoping for. Will be drilling 5 wells in Colombia this year and 2 in Guatemala. Will have about 500 barrels a day production in about a month.
Colombian oil and gas. Pretty much dead money for the last while. Made a discovery worth between 500 and 1,000 BOE’s so will have quite a bit of cash flow in the next couple of months. Did a large financing for some wells that have very large targets so financing risks are gone.
Oil/gas exploration in Colombia. Was weak and bottomed at around $0.10. Did a $35 million fund raising and are fully cashed up. Drilling 5 wells this year beginning in the summer. Prospects are pretty good. (Doesn’t own in his fund but Sprott owns.)
Drilling in Colombia. Has been an under performer. The big story is that they haven't been able to drill as quickly as they thought they would because of permitting. Until they drill and you find out what they have, hold on to what you have.
Stock has really lagged. New management. Have about $0.04-$0.05 in cash on the balance sheet. Just waiting for permits to drill in Colombia. Thinks they have some good assets.
Presently trading at cash value. Drilling up in Colombia right now and the new management team has come in to try to make sure they're not spending too much money too quickly. Will see drill results in the next few weeks.
Just announced a discovery in Columbia. Flow tested over 2000 barrels per day. This well could produce up to 5000 when brought into production. A very well distributed stock so it might not jump too fast. Company could get taken out.
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