To be honest, I have always traded SOLO but with their recent news and NT2 / NT3 I am thinking that AEX / SOLO would, perish the thought, become a long term home for some pennies. That would mean a complete about turn for me with these shares. So my question is, do we have an idea of how much of a life this field has(some where I vaguely remember 10 years)?
We know that N2 'substantially exceeded AEX's expectations' so we know it is successful. Given Jay's comments about re-examining the basin profile this may take much longer than we expect. If he wants third party confirmation then again it will take longer. I don't just want the N2 data I would prefer as much info about the whole basin, are N1 & N2 one and the same field, where is and potentially how much oil is down there. Are the oil shows from N1 & N2 the same type. What are the options for the next drill and why. etc This all takes time. Jay is trying to build a successful gas and oil producing company and I am happy for him to take his time over the analysis. The share price increase will follow. Traders and STH's will jump ship but may miss out eventually. That's the risk they take I guess. I am happy to hold for however long it takes because we know we have a valuable asset and we know this will be reflected in the share price in due course.
Thanks Matherdj which based on that effectively puts it two to three months behind and so NT3 in that case, should not be seen as a delay IMO, as that would've moved expectations forward to June/July perhaps.
So for me NT3 is nothing to worry about and we are just all anxiously waiting for the confirmation as to the size of the find. We know it's big and we know that the small volumes are adversely effecting the sp but unless Jay has been spinning a load of blarney, then when the news does land, it's going to provide massive upward pressure on the value!
Crusty, unfortunately the board don't give a monkeys about day to day share price movement, or the interests of PI's... JB has pretty much said as much. It is looking like we are in for a long wait for NT2 results. For some reason they don't want to give this info to market. They must know the NT2 reserves upgrade figures by now! But as you fear, the longer this wait going on the further the SP will drift back. It's a shame :-(
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