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I love when people say 'I think this will go to 2p' like super casually - just a 3 bagger then.... that would be an absolutely huge gain.
not even contradicting you/being difficult - just think it's such an AIM comment. probably right too!
was here back in the Puntland days and made quite a bit of money here... got in early and got out before it all went bad. didn't quite time it as well as I could have but did well enough.
hoping to do the same again!
Must be very close now. Looking at the other permits, within next two weeks seems very likely.
I expect this to move to around 2p ish and then according to the RNS RMP have up to 15 days to formalise the agreement at which point this will spike up then may retrace back. At this point it is then game on. I really like the look of this play and they seem to be doing their homework as well. Interesting times ahead....
I expect the permit will be next week or the week after. The oil price has risen so things are lookng a bit better.
There's a sell at 0.52p showing on the Aquis exchange today at 2.58pm for 276k. Overall more buys than sells today though
If you look the 0.o52 sell went through on Friday and not today, check again TheSyrup
The spread has been showing like this for some time with a little deviation. They dont tend to move the sp so it looks like the sp has been fairly static. I have topped up 100k to add to my lot, trade shows on Aquis as do a few other trades. The mid has just closed at 0.55 up a touch following that final 100k buy. Not been in the blue for some time. Permit news can drop anytime so i guess people are getting in whilst they can
Buys are going through at full ask price at the moment. The last sell went through at 0.52. That's a fairly big spread
Just topped up, but it's a bit odd that the share price is 0.598, ask is 0.598 and the bid 0.50, I find it odd there is no spread, or are the MM's trying to get rid of a load of stock, interesting.
only just back from a walk,
revisited Watchlist to see near 14% rise :-)
hi Mindshadow, that's not a million miles from my situation. I stretch all the way back to Puntland and missed the opportunities in the last two drills also (4p +). At what point / price do you think the dilution will come? Just before drill commences , or does it tend to be just before drill results. I what out at 5 p and that will be it for me. regards
i was running the maths from the investment i had many years ago.....
it's scary to think this was a high pence share.... i missed a dramatic rise to 50p and sooo many people must have got caught out. i was in at around 15-17p times....
looked and numbers, as could not recall how many shares i had back then but was about £20k worth, at around 15p.
so my 350,000 now at those prices would never be affordable..... £52.5k..... whereas i have all those for less than £2k.
so 2p rise, great. 5p amazing.
Good Luck.
Keep watching.
I have almost 500k shares and quite happy with my entry points.
The past 2 drills I believe I am right to say that both found oil which was not commercially viable which I thought was pretty unfortunate . This block is more profitable and you would have to think that this time they done their research. The whole process has been more shrewd by Bandy this time around and the latest RNS is also positive that they are looking at future projects also. It is worth noting they will need to raise cash for all this as they have done previously near expected drill dates. It's the best time for them to dilute as it won't impact shareholders too much at the higher share price and allows the company to raise funds...to be honest the placing will probably be as important if not more than the drill results themselves.
Once the news drops of the license approval,I imagine shares will get close to 2p and then retreat a little until the next announcement of intention to drill which will be within 2 weeks following license deal. This should bump the share price further up ..
That's how I see it going in the next few weeks but aim stocks have a habit of giving surprises!
400,000 shares, about £2.3k worth. This share tends to be a bit lively on news so reaching over 2p+ will be great. Will definitely sell a few to get my money back if that does happen, leaving the rest for a free ride. Something I wish I did on the previous drill projects, because as we all know this will drop like a stone on any bad news.
topped up today to round up my holding to 350,000 shares from 285,000.
not a huge buy i know, but had a small amount left from a Tesco top up.
the way i look at it is 350,000 x 2.5p is a result....
todays but was in at 0.0059p, previous but was 0.004934p.
What are other holding in shares volumn???
GLA
Agreed, news looks close. RMP also have circa $4.7m in the bank so at these levels we are valued at cash. Shares in circulation are also very low which is a huge plus when things get moving.
I think recent changes to the current status of the license indicates positives that there is some movement going on ...I think it's more of a matter of when and not if. Obviously covid-19 has clearly caused delays but you would think it really has to be anytime soon. The share activity is very static which suggests that alot of people have already taken up positions or not prepared to sell at these levels given the pending news. The spread is still ridiculous but still even now is a great opportunity to buy in when the license news could drop anyday taking the share price to test the 2p levels on confirmation of license alone. As always do your own research and GLA
i'm thinking each time i make a bit off Tesco, BBY, BARC or Lloyds, i might chip in here and top up.
tbh, i'm not prepared to gamble like in the past on "news" that might push the share up.
happy to wait on a small holding, and perhaps increase as profits turn up, bit at a time.
2.5p to 6p would be great at any point for me.
GLA.
That's sounds logical to me Suthy and i agree with your thinking and, as it is a renewal of a permit, i would assume a decision will come fairly quickly now. Can't really see any issues as such. The sp has been kept very static by the MMs who have just adjusted the bid/offer over the last few days or so. Any sp movement would indicate the green light has been given imo and could literally come any time...i bet there will be some in the know who will get a heads up before the masses
Thanks vicjain, it was Joint Authority before the offer and it has gone back to Joint Authority after the offer . Which I think means that the offer went out to Key Petroleum and Pilot Energy to accept the offer and the for final approval by the Joint Authority.
That’s how I see it, but not entirely sure. If I am right then yes it could be very close
I'm no expert either but the status has definitely changed as you say Suthy....so it looks to me as things are getting ever closer...could get green light anytime imo
I am not an expert, but looking at the NOPTA update, it has gone past the offer stage and back to the Joint Authority for decision, which I think is the final stage before approval
Can anyone confirm whether I have got this right?
Key Petroleum also seem to be happy the permit is done.
WA-481-P is situated in the proven hydrocarbon province of the offshore North Perth Basin. The permit covers an area of 17,457 km2 in water depths mostly within 5 – 200 m.
EXPLORATION POTENTIALIt contains the single largest Australian offshore exploration area within water depths less than 200 m with the size of the permit itself regarded as being larger than the most prospective area in the onshore Perth Basin.A highlight of the area is that it includes the Dunsborough oil and gas discovery, and gas discoveries at Frankland and Perseverance.It is also directly adjacent to the producing Cliff Head oil field with 9 mm bbls produced to 31 December 2009 (Department of Mines and Petroleum, 2010), all of which provide strong evidence of a working petroleum system.The recovery of oil at Xanadu-1 is significant as it appears to validate the interpreted oil migration pathways from the known oil sources of the Kockatea Shale and the IRCM in the Abrolhos Sub-Basin in the central portion of the Permit.Oil from the source kitchen is interpreted to have migrated up-dip through the southern portion of WA-481-P into the Cliff Head and Xanadu structures located in the adjacent permit to the east.Markets for oil exist at the Kwinana Refinery, 5 hours by truck south of the Arrowsmith processing facility that handles the Cliff Head produced crude.Markets for gas are in the form of long term supply contracts to meet Western Australia's growing energy needs that can be tied back into the Dampier Bunbury Pipeline Gas Pipeline to meet a number of customersKey believes the permit contains proven play fairways with numerous untested leads and prospects as well as appraisal opportunities of known discoveries.A Geoscience Australia study over the area several years ago highlighted the regionally extensive source rocks, which have good to excellent potential for generating oil.While the majority of hydrocarbon resources in the Perth Basin have been found in the Late Permian clastic sequences, recent Early Permian discoveries onshore are shaping up to be some of the largest gas resources discovered in the last 50 years.
Are we there yet?
From 13th May
About Pilot Energy: Pilot Energy Ltd is an emerging junior oil and gas exploration company that is
implementing a low-cost, counter-cyclical strategy to develop a portfolio of high quality oil and gas
exploration assets. The Company’s aggressive new ventures program has rapidly resulted in
acquisition of material working interests in the WA-481-P, WA-503-P and EP416/480 exploration
permits, located offshore and onshore Western Australia, in addition to a minor working interest in
the EP437 permit.
So could this be the reason for our sp increase?
WA-481-P is the permit we are waiting news on.
Pilot Energy are saying box ticked imo.
Need an rns
Gla
Very true and this could be RMPs last ever opportunity.
Will need to place again...oil prices at near record lows...Bandy not seen as a credible operator.
Needs to get this right or its lights off
Seems nothing has changed in RMP world.
No news.
News
Placing
Drill News
Positive Results News
Large Sells
Negative Results News
2 years
We're off again!