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Looks like the price has levelled, now its time to load up, revenue from first gas money coming in next month, schlumberger deal done, no brained IMHO.
Money will start coming in next month, first gas and $120k per month revenue minimum. With $1.5 million worth of oil handed over by Schlumberger, which should ensure that we have enough money for next year. Should be nearer to double digits, which we should within the next couple of months imho. Buy time.
3.7 does appear like a resistance point looking at the short term chart.
AJ - Do you have any info on KTE-39?
MP
The big boys have taken profits this week and that is why the SP is where it is. If this is their modus operandi then each time there is good news and the price goes up, then they will do this again and again. It's their shares so they can do what they want, but one would have thought that investing so many millions into a company that they would want to be part of the bigger picture.
Yes what does KTE stand for ? Would imagine its an area just like WR is West Rustavi !
The big boys are schlumberger and they are backing block. That’s all we needed to know. Now it’s up to the board to generate cash flow which will start from next month minimum $120, 000 a month. Of course this will increase significantly with time. Maybe I should have top sliced at 5p but instead I am adding more here today. 3.8 is a steal imho.
KTE is the town jay
MP
How is the cash flow of $120,000/ month going to increase with time? Production wells always decline. But in any case cash flow is not the same as earnings once opex and cost of sales are factored in it may not be material. This gas is not saving the day they will need a raise to develop anything further. Questions are when, how much and at what price (3.5 p , 4p?)
A lot to look forward to, Next month first gas and $120k per month revenue minimum, $1.5 million worth of oil handed over by Schlumberger, which should ensure that we have enough money for next year. There is a massive exploration upside in the new Schlumberger acreage which can be developed through taking farm-in partners and so will not require much/any dilution. Patty1 well has the potential to be a company maker. Schlumberger as technical partners mean that we have the best in the business on our side. 200bopd production from now, with much much more to come.
There is so much upside here now with minimum risk. This is one of the most undervalued stocks on aim right now and will quietly add to my holding until we’re ready for our next attack at 5.5p.
Not throwing rocks just saying the gas is insignificant now in comparison.
Oil on the way up and plenty to chase in XIb so bits of gas not required.
I reckon they will shift emphasis to oil. They probably need to recruit some proper engineers first.
Gas insignificant !!!!!!!!!!!!!!!!!!!!!!!!
Really ?
I dont think so.
I think there is more gas than we will ever need. There is gas galore.
Someone has bailed out today.£100k,no wonder the price has dropped so much but on the other hand someone is mopping up these shares.
Oil's considered a dirty business, if we pick up a few barrels when producing gas all well and good, helps keep the lights on. Gas is the only fossil fuel that will be around in 30 years time, the transition fuel that the world can't really do without as it means itself off coal and oil.
Mark my words, fracked oil will soon be as unpopular as coal, then conventional oil will be the next fuel on the world's eco hit list. By the time they get around to gas, most of us will be already rich or dead.
Can I be dead rich Nico?
From 13:40 astec all the 3.65 and 3.645 are buys. There are probably £25k to add to the days buys and subtract £25k from the published sells to get a closer idea. Totally irrelevant anyway in the grand scheme of things. I hope I can top up next Tuesday when I have funds available at 3.7 or less. Please don't boom yet Block!
Sorry typo . Meant £35k at least
Bobby I loaded up today, we should have a bounce on Monday imho.
Lots more buys than that, I have bought 30k worth today alone.
I couldn't be bothered counting Scooby! Just a rough guess!
AJW, have Bago got their own Twitter feed? Can’t seem to find it if they have?
Trip, I think AJ means Bloe could tweet updates on the pipeline completion. Whether Bloe do give twitter updates or don't I think the company is entering into a rich news flow period which is refreshing after a relative quiet 6 months.
Short term we have Bago pipeline completion RNS, Gas and Oil resumption sales RNS, drill plan development strategy RNS. This all could happen within the next few weeks.
MP
Cheers MP, thought that was the case but thought that I would ask just in case they did?
No worries Trip. Obviously I meant I think the company is entering a rich news flow period. Modern technology is both a blessing and a curse with those mobile phones.
MP
After being a bit disappointed with the share price action this week, reflecting on it I’ve come to realise we shouldnt have expected much more. The completion of the deal is use but in itself it doesn’t do much as it’s largely a static asset. The excitement comes when we get details of the development plan, that for me is the lift off moment if the plan is as exciting and game changing as we think it might be.
A nice bit of news before Christmas will do me .They could start with the 3d results,they obviously have them,so why have they not been released. Our day is coming.Stay positive.