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One sensible move they did make however was to become involved in the California operation. Even you or I could not fail to get oil out of the ground there. Whether it would be commercial enough to pay anything other than the actual drill and our salaries is another matter. But it looks good to prospective punters, especially with that word 'transformative' thrown in.
mannan, it's due to a complete lack of confidence in the 2 superstars running the show. The original business plan had merit but was executed dreadfully.
Could be the markets are scared the Chuckle Brothers are going to spend any money from Corallion sale on some other dead as a dodo madcap scheme? After giving themselves a celebration pay rise/bonus of course.
3 excellent news in a row. And now back to the low again. W. T. F
No need to ramp or de-ramp over there Jb but thank you for those kind words of support.
I think my assistance to help newbies attain a balanced view of this company will be of more use.
Well Persi I cannot say many on here will miss you but enjoy posting on the Whitbread board I am sure they will appreciate your wisdom more over there than on here.
deemule, we don't know what we'll get for Victory yet so it's difficult to value the sp although you would think it would be a fair bit more than our current m cap. As for the recent podcast SW seems to realise the full impact of their failures to date whilst Oza seems to be living in cuckoo land.
deemule forgot the adjective 'fire'.
Agree Barking, I sold out of SNG Friday having made a decent profit for the second time around, and bought into Whitbread early doors yesterday, which looks like a a very good medium to longer term investment.
At least you are not just gambling. I intend holding here but with very little confidence of getting my 0.4p's back now. It's more a hopeful punt nowadays.
I find the selling a little surprising now Victory is up for sale as every day passes the sale draws closer.
"The whole market is awful."
Not sure I agree with that, even the banks have recovered from lows Barc 80p April 2020 and today 202p. LLOY 25p April 2020 today 48p. RBD on the other hand 0.025 in April 2020 and today 0.019.
Director buys and yesterdays interview have done little to calm nerves. Downward pressure yet again
The whole market is awful.
Pray tell me Jb how I can play down positive information when there never really is any?
cloves I never walk away from anyone who confronts me in the way you suggest, and from your last posting that says more about you than it does about me. I would hate to be in your shoes, after averaging down on numerous occasions from 1.4p to where we are today. A factor of seven.....my commiserations cloves, and I understand your frustration, but better look facts 'in the face' than hide away from them!
Price 0.4p
"If I remember correctly, according to an old CPR West Newton has an NPV OF £250m on gas alone. Since then they've discovered there's also an oil lake the size of Loch Ness, and the gas extends for miles. No wonder those who want to drive the share price down are getting a bit hysterical."
Seems to me the company did the work of driving the price down, the gas volumes have been reduced by 80% and the oil is single figure recoverable (all as per published info their website)...
Director buys and yesterdays interview have done little to calm nerves. Downward pressure yet again
Why are you here every day constantly play down any positive information from the company spinning lies and fear? What is your motive? You are certainly not a shareholder.
"For anyone who blames advice on LSE forums for losses, please give up shares now and consider premium bonds it may be more suitable for you".
I wholeheartedly agree, unless of course it's for experienced expert advice on 'averaging down', and then cloves is your man.
Cloves - "are you concerned that about people who have lost their savings based on your poor advice?" Obviously you are viewed with high esteem to have the influence over important investment decisions for the masses.
For anyone who blames advice on LSE forums for losses, please give up shares now and consider premium bonds it may be more suitable for you.
Sell your one share then and move on with your many accounts.
cloves here's a FACT for you....
Since the 4th October 3 weeks ago when the share was 0.22p we have had mind blowing transformational news RNS's about both Victory and California. We are now at 0.20p
Why has that happened?
Just a point on your statement about investors losing their savings ....You only lose your savings if you decide to sell out ...It's well known with shares especially A I M .. people often follow a herd like mentality and will sell out on the back of some poor news even though the company is still okay fundamentally ...I mean do you expect Reabold to go bankrupt next year ??? I don't think so ...There are countless examples of A I M companies where the share hits rock bottom only to stage a sudden and dramatic recovery in a short space of time ..This is not a guarantee of course and there are always risk involved but no one is going to make money just stashing it in the bank !!!!
‘RNST, I'm bored talking to a conniving maggot, so I'll bid you goodnight.’
Cloves loses yet another argument to RNST and resorts to his little book of Georgian put downs.
Cloves, having encouraged people to invest in this dog of a share - which has tanked since you apparently invested and made your first ‘appearance’ earlier this year - are you concerned that about people who have lost their savings based on your poor advice?
Fair point Dream on... its about futures prices, not current.
This is a rush to sell whilst Gas remains expensive, so its the obvious time to try and sell.
Who ever buys will need to negotiate access with Total and the transportation and processing fee, and a better capitalised company who has the funding to develop is probably better placed to do that..
The graph of line capacity pg 21 BNP report does however point to the fact that Totals plans for Glendronach is key.
It shows that as they move to low pressure then Glendronach production is capped 26-29 by the introduction of Victory volumes.
As owners of Glendronach, I would have though Total would want that in the system uncapped before they bring in 3rd party volumes...that may or may not be the reality, but that's what the production throughput graph is saying...
Interesting report. However the gas prices at that time were not 50p a therm. In 2018 they would have been looking at the futures market for gas in 2021 at the earliest and in 2018 those futures were 30p a therm and on a downward trend.
I’ll take that as an admission that you think RPS are smarter than Chevron. Gutsy call after HUR.