...nothing goes up in a straight line. Just look at the graphs from MATD or SOLG. They are what I would compare this to. Ups and downs but the trend is up... because all the fundamentals are amazing. MATD dropped from 28p back to 16p, then up to 22p, back to 16p and now sitting at 35p. AEX has income, has proved up NT1 & NT2, the gas is there, possibly oil too, NT3 is just about confirming the size... but the stuff Is there. We have a direct route to market and support of the government, plus buyers waiting. This is heading way beyond 10p, but if you think there will not be any pullbacks you are living in la la land. I don't like all the ramping bacause it attracts day traders looking for a quick buck... which then brings volatility and scares off genuine investors. Great time to top up now as this is the first pullback since 4.8p... there might not be another before 10p. DYOR GLA and all IMHO
With the RSI at 79 this isn't technically oversold, if anything it was overbought on hype with the RSI above 90. I am a LTH and not de-ramping this in any way but maybe if we stick to facts and less of the ridiculous ramping we might get a nice steady climb instead of these trader spikes. Far too much ill-researched nonsense being posted on here lately. This has a long way to run yet so lets keep some cool heads. Today's retrace is a classic example of what happens whe we don't we invite in the sort term traders and the more twitchy members of the herd..
Right , a lot of posts today , but thought I'd add a summary of what's been found , whats due short term and whats next med term=
History= 1) Ntorya 1 discovery - drilled 2012 - 70bcf resources - 20scuffs (20mmcf flow) with 139 bbls of oil condensate 2) Ntorya 2 - 153 bcf potential - 6th feb 2017 reported 25-30m of gas sand pay with some oil towards the lower zones. Flow testing underway and results due late February 2017 3) Ntorya 3 - 945 bcf potential - to be drilled shortly afterwards. AEX raised 25year development licence.
In addition , we have Kilwani North 1 which is pumping 20scuffs a day and being sold into Tanzania @ agreed $3 per mcf. Revenues already been generated
Long story short , we're very close to key result on NT 2 and then we have NT3 to look after. Worth noting that Zubairs money has paid for the next drill and that AEX owns 75% of the acreage with SOLO having 25% , but they haven't paid as yet for NT3 contribution to drilling.
Anyways , we on a good journey here and I believe the opportunity for AEX could surpass even SOU
due before the end of the month so Monday could be the day why would you sell knowing the results are due that's what we are here for surely.If a stonging NRS comes out there will be mad scamble to get back in
after a promising start and a reasonably solid day everthing evaporated, for no apparent reason just after 14:00. Can't see any big sells, buys appear to outweigh sells by a reasonable amount, volume ok ? Thought it was just a tree shake and expected a late correction but it didn't happen !
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