Equator Exploration - Sao Tome oil play

That RNS was so encouraging. I don't know what cash they have now - they had about £50m at the interims and just raised £35m. So at a mkt cap of c£355m the enterprise value is c£270m. With potential of 40% of 1.5tcf of gas from Onware and the "sizeable" gas and oil zones in the current drill area (B-1 DZ well), I believe EEL is still well undervalued and we could see it double from here quite quickly.

Of course there are all the other blocks in the EEZ and JDZ that it is involved with.

Great share !