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Well done rxdav, I did it couple days ago. And thank you RA for you effort.
Sentiment has turned on the buys by directors and a conscious effort to push the share price up. The fundamentals are appalling-no production until 2020 and inevitably more dilutive placings in the new year.
Sorry Yin Yang
That simply won't wash The February rns and other statements by the company clearly indicate with a fair amount if certainty and empirical evidence-geochemical analysis-that the Kimmeridge at Brockham "Is of the SAME MATURITY" as at HH-and even richer deposits.There had obviously been a deception and misleading if investors in the first instance,..as theseen two statements of February 4th and June 28th are totally contradictory
That's actually inaccurate. There AIM rules are unclear on that aspect, a "close period" is only defined by upcoming financial news, and takeover negotiations. Beyond that, unless it's flagrant, there is no clarity.
Some BoD members of some other companies (cough... Ascent... cough... Resources... cough) use the phrase "close period" as an excuse to stay away from buying more into a sinking ship.
In the present case, I expect at least sooner rather than later an operation update on the reconnection of Saltfleetby to the grid - e.g. a schedule of works for example.
Clusterbuck
Directors can buy and sell shares in their own companies during periods when they are not aware of any information which the general public is not aware of which might cause the price to move.
I would strongly recommend any potential investor to read the recent RNS' as highlighted by the original post in this thread by Mr008. Very difficult to make an informed decision here. Sentiment seems to have turned for now but I question on what basis other than director buys and options based upon future success. You'd hope the directors know something we don't but when you read the official facts in the recent RNS' it casts a long shadow of doubt over anything they say or do now. Good luck to anyone trading this or buying into the potential for future success.
Airwick options and Director buys clearing the foul smell nicely.
The offensive odour will only intensify with all the bull poop posted tonight.gla.
It needs a pumping after the excessive dumping to clear the bad smell that has been lingering.
Well you're pumping heroically tonight. What comes after the pumping?
Certain areas like Horse Hill and Balcombe have better maturity where the oil just runs out without even to be pumped.
The Kimmeridge is not a well known and predictable oil reservoir onshore. Fracking it would probably produce commercial quantities, but not allowed to.
Already explained in the conference call. The Directors were as disappointed as the ordinary investors at that result. O&G exploration is risky.
2/4/2019RNS
“Managing directors Statement:
"I am very pleased with the oil analysis clearly confirming Kimmeridge oil at Brockham. The water zone is obviously an unexpected hindrance but, with natural flow to surface and evidence of oil, we remain quietly optimistic of achieving commercial success at Brockham. Brockham in combination with Balcombe could be transformational for the Company and oil production in the Weald."
28/6/2019
“Further to our announcement of 3 June 2019, Angus hereby updates Shareholders on the results of the work programme which began at Brockham on 12 April 2019. Further works on the BR-X4Z borehole have been completed and, following analysis of the results, it is the view of the Company that, on any conventional approach, it is extremely unlikely that commercial hydrocarbon flow can be established from the Kimmeridge layer at Brockham. Supplementary stimulation techniques including hydraulic fracturing have been ruled out by the present Operator. The Company, in its role as Operator, has already made clear that it is not a proponent of the use of such unconventional production techniques in the Weald and this position remains unchanged.”
Is this company still trustworthy?