Bought at 1.35p on 12/01/2021
Saw a lot of posts about this one on Twitter and decided to do some research. The potential rewards of any junior explorer are very high but also very risky, so I decided to take just a small position.
Their main license is an area of oil exploration off the Namibian coast. This is a hot spot for oil explorers right now, and they neighbour areas licensed to Exxon Mobil. The initial draw was their announced release of data from their 2D seismic survey at the end of January. This could be a short term catalyst, along with the potential announcement of joint venture.
My aim is just to hold this one fairly short term. However, if the prospects increase with a joint venture, then I may keep a small stake and just slice off any profits.