331k buys, 12k sells....mms can't keep the price at this level for an extended period with volumes like that. Also, each night after hours we are getting substantial buying. What would be the reason to sell here? Only two weeks until the drill arrives and I am sure we will get an rns...the party is about to start here and over on FOGL.
The facts speak for themselves. This is a safe share to be in and with a massive drilling campaign starting within weeks, this is going up, up, up. Let the mms create their little pullbacks. The volume is what is important here and people are buying in big every day! Eventually this will be let go for the next leg up. Same happened with RXP, KEA (before the disaster) and a load of others.
I am a trader at heart. I don't invest unless the long term story is good. There is a lot of rubbish on AIM but RKH is a diamond in the rough - even if it is trading at a low level. We all know how quickly things move on AIM. We would easily get a 25% rise in an hour from now as happened 5 x with RXP last year (I still have all my shares over there for the next leg up in April). The FI plays are the big plays of the summer though imo.
(As have already been stated by a few)...$205million in the bank. Two weeks away from rig setup. Potential to drill all North Flaklands prospects before heading over to the South basin. MOG assets looking promising with first gas shortly. Free carry of $48million on the current drill campaign. A history of SP increasing 100-500% on previous campaigns. This is about as safe as it gets at this level! Zebedee could well prove up enough oil to make Sea Lion commercial at $35 and we are now trading over $60. Massive volume each day on the buy side and only mms are holding this back! This could change on a whim and we could be well into the 70's shortly..the demand is there without a doubt.
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