I'm wanting to know if I'm going to be in the dog house. I invested my mum's money (with her permission) in to this share at 1.60, she's seen it go down and is panicing (admitedly I'm beginning to become concerned) The clock runs out in March. Does anyone think this will be North of 1.60 in March or am I coming off the X mas card list? Dog.
Re: Fun and games but onedb1 5UP Support held well . in fact we are seeing nearly ( not quite 22 but still going vs 14 ) double yesterdays volume on a price rise ,
Not quite then a 'bears in control market" is it now ....
This is despite the backdrop of falls in many commodities and oil too . Luckily we suffer less than most due to our core value locked in confirming the extensive resources.
My view is that our resources alone ( which are being substantiated by the likes of well #32 and farm out interest are more than enough of a good reason to go long and to stay well hedged against overall oil weakness. We should defy the market weakness at the moment simply put because 18bn oil and possible 9TCF recoverable are not worth 30 odd million quid in market cap terms and not even the EV is reflective .
It would be nice to see oil return well passed $100 but as we are mostly still uncovering our assets and defining them, the focus is there - ie confirming resources .
Had we been producing 10k bopd and lots of gas then it would be right to feel a little bearish and follow the market . Had we been at say 10p with a market cap of 265m . But we are at 1.2. So for now our value is in the resources being booked . The value of which we know is staggering.
So a good position to be in, in my view at the moment , technically we saw support at 1.1 bang on and on fundamentals we know that we rely less at the moment on the vagaries of oil and gas prices , plus this market cap would not even buy a mansion overlooking Kensington Park Gardens ;-) and would not command a similar taxation ( should labour win the elections .. ) in fact we have around $400m of costs to recover before we'll get to give away our profits .
For the above reasons I feel we are more than in a good position risk wise , not to mention that a cold winter in Europe and the US could be of massive benefit to us later on if we start producing seriously .
That is my view as always these are just my thoughts and for disclosure I am long here with a nice core holding at 0.69 and now a trading holding at 1.15. ( which is about a fifth of my overall core ) .
I also expect news based on the last RNS to start hitting us around the end of Oct possibly 1st week of Nov. so pretty soon , A good #34 well is just the cherry we need as the field will get more and more certain of the resources . Remember to that as we are here typing on this bb gas production and sales is quickly moving north as unfolded in the last RNS , from h1 to h2 a 12 fold increase and the RNS is clearly showing that we aren't at capacity just yet ( that too is being increased yipeee ) I just wonder what the capacity will be in 2015 but I suspect at least twice as much , progress here is finally becoming excellent .
I can't complain with this holding and hope you see value in it too as I have a very bullish view here .
They are lifting then dropping to confuse. It's working !,!! They have confused the hell out of me. If you keep hold. Dosnt matter what they do, day to day. Play away. Keep hold tight then they can't play the same. Sign of a big rise coming. Trying to shake the hell out of the share. Trembbbbllleee tremmmbbbble. Lol
Concurrent with ongoing production and new drilling operations, extensive geologic studies continue across the Mtsare Khevi Gas Complex. These ongoing studies include the integration of current gas production performance; historical geologic, geophysical and engineering databases; new geologic field work and outcrop sampling, as well as associated laboratory analysis. To date, study work reveals extensive conventional and unconventional (Maykop shales) potential associated with the Mtsare Khevi Gas Complex. This work is expected to conclude during the third quarter of this year, with independent assessment to commence later in the fourth quarter of 2014.
It was the publication of the independent assessment on resources that led to Rose multi bagging. With oil and gas reserves here current prices represent good value I think.
Specifically, operations will include the re-entry, sidetrack and frac-completion of the Niko #1 well. When the Niko #1 well was originally drilled and tested, it flowed at a peak rate of 960 bopd and produced 10,400 barrels during its 40 day production test. However, production was suspended as a result of a poor completion and failed packer. Today, reservoir performance modeling by Frontera from this planned operation calculates a "most-likely" case of approximately 1,000 bopd. In addition, Phase I operations will include side track of the T-#31 and T-#16 wells in order to apply frac-completions to Zones 14 and 15. Based on the Company's reservoir performance modeling, it is anticipated that these two wells can achieve daily production rates of 300 bopd per well.
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