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I read somewhere in presentation that is 80% based on fact that Total pretty much proved that area. However, I am wondering why Perenco didn't go for this Njonji-3 well location after acquiring license from Total (if it is 80%) after they already knew Total well results. Instead Perenco (under time pressure apparently) decided to drill just north of TRP license.
Thanks I was certain it was extraordinarily high but couldn’t remember. Thanks
80%
Anyone know the COS on the njoni-3 well? I can’t remember
Think trades showing twice, mentioned on other boards as well
This will climb steadily I think in anticipation of farm out news, under the radar, people accumulating as and when they can.
What’s with all the small buy trades?
This is definitely the opportunity to keep building your holding. A bought a few more today. Will have another top up tomorrow too. I will buy while I can!
Have lumped a few quid in over the last few days,look forward to seeing where this one goes.... Hopefully up!
This will multibag once the farm out agreement is confirmed and that is imminent. You wont be able to buy any as market makers lock you out. This is the perfect time to buy. Farm out agreement imminent. Equipment at place and staff mobilised and rig availability confirmed with spud at the end of this year.
Anything below 1p will multibag in my opinion
Fingers crossed it's from this price and not lower.
will multibag at some point
Aussie, you are right regarding buying pressure. It doesn't take much for the sp to fly. I can see a multibagger myself with the bigger prize towards the end of the year and beyond. The market loves oil and gas drillings.
"Spud explained"
Spudding a well is simply when the drill bit breaks new ground (seabed in the case of offshore wells).
True but I am buoyed by the latest presentation. Plus at the current mcap it is almost priced to go bust so huge upside from here. Like 10 bagger. Liquidity is poor so a bit of buying pressure will see this fly.
I'm not altogether sure that people really believe the words that come out of Asher's mouth, hence the selling, short term profit taking and falling share price.
But on the other hand, actions, yes if/when any actions are taken then people may start to believe.
Asher has always been very good at words but a bit lacking in actions. Let's see what transpires over the next few weeks and months. Maybe he will deliver, maybe he won't, we won't have to wait long to find out.
Spud Explained
Spudding in is a highly complex task involving sophisticated techniques and machinery. It often costs hundreds of thousands of dollars to drill even a simple well. More difficult wells can cost millions of dollars. The most expensive wells are often found offshore, where high-end drilling platforms can cost over $300,000 per day in times of peak demand
My thoughts on the selling...
https://twitter.com/sharp_bj/status/1419968008986845184?s=19
You should do very well. I don't really understand why you would sell days away from potentially great news. It gives up an opportunity to top-up. lol
Bought another 1.5m over the last couple of days, including 400k today. Happy to take advantage of the dip here. I am feeling pretty confident about the next few months