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This share is gona reach 6p with ease(its recent high) when a farm out partner is announced, And this is looking to be within 1-2 months. When the RNS does land this share is gona fly. p50 2.5+ TCF and we are not even 4p. It is undervalued.
Its always the same old same old I could name several similar situations, data room or no data room that until a farmin happens and they actually start drilling can 6p be reached and sustained. OK gamble on a farmin and a spud date but don't kid us that anything is going to happen very quickly in this depressed energy market. Longer term yes but short of an unsustainable spike we are unlikely to make 6p. P50, P10 whatever - we are in a similar situation to SOLO UKOG except they actually have money coming in and no debt and have drilled just the one well - no work and no revenue CLNR share price of 6p is purely speculation. If it does then I am gone and back in when the SP inevitably drops back again. I've dabbled in offshore Ireland (shallow offshore Cork and deeper fields) offshore Falklands (shallow fields) Bahamas etc and they all have similar stories, just waiting for a farmin, lots of interest blah blah but the truth is until things start happening sentiment is not on our side. Gas reserves are slightly different but still need an awful lot of investment. On the other hand once a farmin happens, UK gas resources actually meaning we have to import more and more gas and above all the P50 becomes a reality we can't reach and sustain 6p. At least I don't think so. Perhaps the old saying 'to travel is better than to arrive' will prove to be the case and you get your (sustained) 6p but I won't be betting on it at the present price. Cluff is a wiley old bird ( I was in Cluff Gold and made a few bucks over the years) and no doubt cash calls and inevitable dilution will occur long before productive drilling occurs but then that is the name of the game and this is AIM. That is why I am in this and if and when some solid facts appear I will have another punt. GLA
A little bit misleading the bit about SOLO and UKOG having no debt I was of course referring to CLNR having no debt but no money coming in and no prospect of a spudding date unless a miracle happens. IMO another factor that will help us is if HM Government were to encourage gas (in particular) exploration more in the N.Sea by giving back the tax breaks that were taken away by that nice Mr Osborne. That would make a helluva difference to CLNR's prospects at a stroke.