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Verbier imo I felt it was an insult to tweet that after such a poorly worded RNS wiping millions off the mcap, and many people lost thousands. It was a pointless tweet saying nothing we don’t know so they should have kept quiet imo or issued something clarifying drill position which most would have welcomed
It did make me wonder a bit after the market reaction from the RNS if RMP thought the market had got it wrong or why post the below along with two explanation marks a couple of hours after the SP crashed. I guess we will soon find out.....
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Oil shows have been observed whilst drilling in the Nanushuk in the Winx-1 exploration well!!......
But why suspend ASX at all unless they were packing their bags and shuffling off home, which they obviously are not. Very odd RNS, way too vague to even second guess.
That’s what the do over there. More regulated than the aim casino
So why was ASX suspended and not AIM ?
Seabee was deeper than expected so these shows are likely above N5. They wouldn’t suspend for 5 days if they didn’t have further to go they would simply case and continue to Torok
The more I read this RNS I'm sure DW wrote it,and really it indicates a find outside the expected zones,positive or what,but he doesn't want investors getting to excited.
And another point,the Seabee formation is within the Nanushuk.
But the RNS clearly states the drill depth on the 28th Feb,RNs is 1 march,was the 28th Alaska time,and the RNS GMT,didn't give them time to drill through Nanushuk 4,??
Asx shareholders tend to be more protected compared to the AIM casino punters. At least when they come out of suspension they should the full story to base decisions on. Who were the multiple 1m and 500k buyers somebody on the ready to fill orders after the suckers carnage.
If there is no further update before Asx trading halt is lifted it will be absolute carnage in Oz.
Totally agree we should have all been suspended or none at all. I’ve gotta say Dave wall is absolutely shite at writing Anns’and Rns’. Unless it was designed to be ambiguous
https://hotcopper.com.au/threads/ann-trading-halt.4659187/
Looks like it could be Tuesday before we hear anything.
Highlights: Winx-1
· Oil shows have been observed whilst drilling within the Nanushuk Formation in the Winx-1 exploration well
o Preliminary review of the interval suggests that the zone in which the shows were encountered is at the lower end of the range required for commerciality; however, further petrophysical analysis is necessary
· No oil shows were recorded in the shallower secondary target (Seabee turbidites)
· Forward plan is to continue drilling to test the deeper objectives
It describes results from the Nanushuk!! The possible ambiguity lies in the fact of whether 'Nanushuk' in the RNS is just for N5 or N5+N4. There it is - until that is clarified everything is pure speculation.
It was an inexcusable oversight by DW to approve that RNS with it worded like that and AIM investors are right to be very very p*ssed off about it.
It is something that the FSA should be concerned about as imo it was definitely misleading information which by definition can be construed as 'market abuse' and has cost AIM investors a lot of money whilst ASX investors were not affected at all.
Miner very true, that’s why I left my average at 3.8p here and bought 88E at 0.78p, that way I’m leveraged albiet it will only work if we have a success next week, but worst case 88E whilst less rewarding is lower risk which hopefully limits any loss on RMP if news is bad, as 88E will recover quicker and recoup any RMP losses Just won’t be as big a reward but depends on each persons appitete for risk here, given the last RNS. Even buying in on a positive RNS and even at a 100% increase those buying initially at 3.8-4p will still be buying at 2.50p half of what their initial holding was, and seriously de risked whilst the leverage on 88E is pure profit Of course, it only works on a positive next RNS
Lets see tonight is we get rns at asx.
If we take it as the RNS was indicating an oil discovery outside of the expected zones,but was rushed out to quash speculation,it should have read as a positive. Anyway the Seabee was very close.all to play for here,and for reference check the horseshoe 1 1A finds,four miles away
Mc, as per those slides, sh itty black line above N5 leaves gaps for oil to escape upwards and water downwards. More solid black line above N4 which hopefully will keep the water out from above and the oil in from below. Black line above N3 looks good aswell but oil zone shows yellow on amplitude so probs not as good as N4 but may be something there.
The only thing I’m grateful for during this debacle is that I invested in 88e and not Red Emperor. If the news is good next week, both will do well. If news is bad next week, 88e will limp on but RMP will have gone from 4p to zero in days!
Seabee came later than expected but they reported ASAP when they came to an area of interest with shows and suspended asx until they expected to get through it. Asx comes back tue bit if they have passed the zones of interest before then they will report and take them out of suspension leading to Torok where they will lpossibly suspend again. Tick tock
Cheers Jof, To be honest, i’m Not that bothered! Regards to the water contact in the potential upper area, what could that mean? Regards migration? Porosity? Permeability? etc... I just find it strange they released that news with potential further to go. Oh well! All the very best, Regards,
Dont apologise Mc. It's good to riddle this stuff out and this is what these boards are for. I think as a group here and on the 88e board a lot of good info has been shared these last few days and I think collectively we have a better understanding of where we are now than when the RNS was first released. I could be completely wrong but I think we're in for a good week. We will soon find out
Hold on! Was just worried! I was not suggesting anything, was just stating I was worried as the area of interest was 4400ish to 4500ish and based on recent seismic that was the primary target. Apologies,
McG...LSE is not very good for sharing info pics etc so see last few tweets and replies and pics here....https://twitter.com/RealisedP
Info is from RNS and Jan 88e presentation. pics show depths etc. particularly the green depth map
Do you have a link for that older presentation?
How on earth do you get that from reading the RNS ??? seriously - if the area of interest was in the middle of the primary target, then the RNS would have said they have reached the primary target. The RNS stated a zone of interest. it did not say the targeted areas - 4 or 5. Strongly suggest you read again before posting your conclusions on the board