- Meta Materials reported Q4 2021 results that were in line with my expectations.
- I had estimated 2021 revenues of $4 million to $5 million, along with the potential for a capital raise later in 2022.
- The Hazel Project acreage did not sell in 2021, with the option to purchase it for around 20 cents per barrel in estimated oil resources expiring unexercised.
- The Orogrande is unlikely to have sold either, resulting in the most likely outcome being a spinout of the oil and gas assets.
- The oil and gas assets are unlikely to have more than minimal value unless there are a series of good results demonstrated from horizontal wells with 5,000+ foot laterals.
For further details see:
Meta Materials: Discussing Q4 2021 Results And Oil Assets