"Gas prices in the US ( not for Georgia - clearly there is confusion with some )
Anyway in the US prices are not plummeting which may explain why a producer may be falling in the US ( ehm we are based in Georgia not Georgia US ...)
US contract ( not to be used for FRR Georgia prices ) measured in 1,000,000 Btu Cash at 14,20 $3.833 - 3.836 Nov $3.862 - 3.867 Dec $ 3.947 - 3.951 Jan $4.03 - 4.034
Note 1 cubic metre is 35,314 btu So the equivalent price per 1000 cubic metres is roughly $134/135 in the US , nearly half of Georgia . Here I think is what is getting some confused massively in plugging the revenues for our gas sales and even resources. ( probable resources of up to 9TCF ) . A nuts figure .
In Georgia (the eastern European country) they are far higher and vastly quoted as being at around $250 plus per 1000 cubic metres . If you don't believe me ( which is fair) get yourself a bloomberg terminal or someone who has one can help you . Your broker might help .Don't just believe what you read here .
So with the above in mind where is the fall of the very commodity we have started to produce in H1 ? and in H2 we have already seen bump up tremendously ? Are we to believe that progress is stalling when they are ramping production capability too ? Seriously ? Well you must know something I don't .
Neither the US which has nothing to do with us or the Georgia prices are falling .
So if price and progress are not the issue and with the capital just raised ( at believe it 1p so we are trading sub the insiders ... ) a very useful asset to have with even more progress likely to be confirmed, what else could it be ? Fear and maybe stop losses. Ok
But the overall equity market fall, is to me, un correlated in this particular case as Georgia's consumption is not based on the Dow S&P or the FTSE . We still produce for a domestic market one which is thirsty for gas and oil and growing . So am left to believe that its an over reaction .
As for TA , yup support was lost .
Sub 1p a psychological level for many, so my guess is that many will follow Geng's view on gaps or placed stop losses around these 0.9s level . I am happy with TA as most know but this applied to a company that should already be trading at 100m is quite a radical view . But well done for the sub 1p callers. I should have seen it coming I suppose . I am taking a trading hit too at 1.15 with 2m there . my core is still vastly lower .
A good opportunity for those who wanted the stock this low . Now you have it . Congrats on the uber fear mongering . Played well on all three main boards . Same posters same stance all the time . Coincidence ? ehmmm.....
Note that even a 5m quid equity issue would not have deterred me from being bullish . Note to that we have now added nearly nothing since the big spike upwards. How the hell do some justify that in light of progress is beyond my skills of understanding . This company at this market cap or twice
I did tell my misses when they went up to 1.8p. I think that was the catalyst. Not to worry. Still have my 1 mill for when they touch 5 to 10 p. Which I still believe is possible. But not worth keeping all and falling out with the family. They come first. Every time. Cheers zeps.
So sorry to hear you so down bud :( you always bring a light hearted, witty and level headed spin to this bb :) Stay cool and keep tight hold of that 1M as this will come in one day but like all things good it takes time I'm afraid. All the very best to you and your family old friend. VW :)
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