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Fully funded drills are just up my street, however, long long wait for those investing now. Hence the bargain price which may drift further. Great for those that want a long term investment rather than a fast buck.
‘Where is Amtech?”
Golfing, and generally enjoying summer.
It was a £15 million raise Edward, but I think we get your point. Why not go away and come back when its 1p. That way we'll never see you again :)
Thanks a1m1 - good to see you back. Where is Amtech?
Exploration, thanks for your Wise Counsel and Knowledgeable post.
There is/will be a lot going on within the near future unfortunately the Rascals who infest this board attempt every which way to disrupt.
They can be the source of some amusing relief, one thinks!!!.
FD
Oiler/Edward/a1m1/etc doesn’t pay much attention to the wider picture. The posts are designed to provoke responses.
But here’s the situation;
Drilling on CNRL’s Zechstein play has seen two wells on trend in recent months. The first was Union Jack’s West Newton onshore appraisal well which found gas and condensate and is awaiting testing. The other is Oranje Nassau’s exploration well on huge the Ossian/Darach reef in Block 42/4, which is reported to have been sidetracked - probably for more coring. And Simwell farmed out their blocks 41/4 and 41/9 to Shell who extended their 3D survey by 200 sqkm.
The 32nd Round applications are due in November and CNRL has said it intends to re-apply for Block 43/11 which formed part of the P2248 licence. Hague and London are drilling the Andromeda prospect in 43/12 at the moment which might extend the Cygnus/Pegasus productive trend and turn 43/11 into ‘hot property’ - which means that drilling resultswill be highly confidential.
So there will be a lot of news flow in CNRL’s core area.
Oiler, if you, I mean you and no one else, believe those words, why are you posting?
Best to wait a year and then return.
It is not a good enough post to be called deramping . Time waster.----quite a few large buys gone through as sells so far today.----Good post Fairdealer 20 fully agree.
Presumably you’re not invested here Edward . I think LTH’s are well aware of the time frames involved and the overall risk. But I t’s a much stabler environment to invest here right now on the known facts and with work progressing as planned than in the AIM casino that comes to town on the expectation of news.
It’s clear shares are being quietly accumulated and I have added 0.75m at around 1.45p in recent days . It may drift lower, which may be what your after, and I’m sure it’s unlikely to break above 2p for a while but I’m happy to sit on my decision for a good while .
I agree with Dickupham that the dilution means the overall rewards will be less , but striking oil or gas on any one of the three main prospects , even if a year or two away will likely make many regret they didn’t buy at these prices and tuck them away for the future .
One post Edward, whats your previous ID's for deramping ?