We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Seems the bashers are here trying to force the sp lower and lower and seems they are winning. Clearly they are looking for an entry point. The lack of news from the management is just adding fuel to the fire. Would expect a big bounce soon here. A bit of positive news will get the sp moving back up very quickly imo.
agree ...................you can not force the duster to rise
This will come to .40-.50 soon.
‘Believe me’ lol On a chat board - you serious!
Maybe Timster….I really haven't a clue whats going on in the minds of the BOD... il give them a month if nothing il pull the few coppers which is all my holding is currently worth. They must realise if any credibility is to be salvaged from Winx then a clear concise plan is required.... if silence prevails as you suggest..even to the end of this year they will be wiped out or snapped up for a pittance and the BOD humiliated into retirement.
If nothing to see here For years Timster, what are you doing here, surely a waste of your valuable time?!, or is it??? Hmmmmm
Bigbench, you'll be waiting a while for an update! Believe me. It'll just go quiet now for years
Agreed Stew, most likely this morning with the asx and chi exchanges both finishing in the 0.8p-0.85p ranges!
Agreed gatto it's been traded to death and well oversold.....many have jumped ship after the recent news and I'm not surprised after the constant mutterings of positive news turned out to be utter nonsense but that's O&G on the AIM for you.
Il be much happier when we get an RNS outlining exactly what the BOD intend to do now...even a cash called would be fine with me just as long as a clear plan of direction is given to it's weary shareholders after the battering they have taken....it's the least the BOD should do.
This week likely
So finishing spread in oz of 0.8p-0.85p bodes well for this morning here as an early riser imo. Rmp looks dreadfully oversold here in the 0.6’s compared with the oz and chi-x exchanges that have found good support well above our level and are trading in the 0.8-0.85p range. That disconnect should get sorted by us today imo. Very strong buy here at this level.
They now will test to see if there is a trapping mechanism at the location as different zones can be separated.
That's why a side track is important to help interaction between each zone's.
The area is known to be a hot spot for oil reservoir's so there will be other area's within there licence.
But this isn't the only play the company holds ,
As clearly stated Red emperor also holds an equity Interest of 37 percent of block,SC55 which is located in the southwest palawan Basin. SC55 covers an area of 9,880km(2) and was awarded to Otto Energy investment's ltd in 2005. It is a deep-water block in the middle of a proven regional oil and gas fairway that extends from The productive offshore Borneo region in the Southwest to the offshore Philippine ( production asset) northwest of Palawan.
Red Emperor participated in a USD25m exploration well (Hawkeye-1) within the block in 2015 and contributed In excess of AUD5m towards drilling costs.
Over USD50m has been spent exploring SC55 to date and a number of drill-ready target's remain, including the "Chico" gas prospect witch has a best estimate prospective resource of 1.6 trillion cubic feet ("tcf") recoverable gas.
So as I see it we have all to play for here.
Great price to get in now. Gla.
My take 1) Very good chance rmp will drills another well in Alaska, no did get oil shows so it’s there. 2) Funding needs will depend on partners and any other new partners who wants in 3) Would expect next action based on analysis of data of Winx 4) Still a lot to play for so anything but the end 5) Expect price correction in coming days and further when forward plan is revealed.
(1) RMP will not drill another well in Alaska
(2) Any future ventures will need capital raises
(3) Based on 3 years for Phillipines and 3.5 years for Alaska, I wouldn’t expect anything until 2022.
(4)This might just be the end for oil and gas for Rmp and move into different sector
(5) expect price to go sub 0.5p in the near term
Whatever the outcome of the Winx1 results and data analysis, no (if any) new drill will happen til next year due to only being allowed to drill in the winter. RMP has nothing else on the horizon.
I believe the saying is 'one for the bottom drawer' when it come to RMP.
So, is this a case of "Abandon hope all ye that enter here" or does the potential remain for significant value to be realised. As the BOD of Red Emperor is not receiving a very good press on this board i have turned to Pantheon Resources which has an interest in these leases acquired as part of its purchase of Great Bear. Jay Cheatham, CEO of Pantheon is an oil man through and through. Quoting from his comments following the latest announcement - "Data analysis is continuing and more evaluation is necessary to determine the next steps for the Western Blocks. While disappointing, this does not condemn the Western Blocks where Winx 1 is located". Oil drilling is a fickle business, whatever the seismic tells you or doesn't tell you & so i believe that it is much too early to write off RMP's remaining Western Leases & the Nanashuk Fairway. Fools Gold or the real thing? Time will tell but at these levels the shares are little more than option money.
Should have followed my gut feeling, just knew that Bandy would be the one to hit the
duster in Alaska.
The bloke is a born loser for investors.
Should have seen the signs, Malcy in one of his podcasts, mentioned after the good RMS that the companies
involved had a history of *sexing* up the RNS.
Another sign, I shoud have took was the absolute disdain that the presenter Zak Mir at UK Investor Show presentation (Jan 2019) gave Bandy after his talk. Looked like he was trying avoid a handshake with him at th end. LOL Probably knew it was complete crap.
Charlatan popping up with his new glasses, trying to look professional, bloke is a complete shyster.
As for Winx 2, forget it, you won't hear from Bandy for another 2-3 years, media wise anyway.
2-3 and nothing from the last duster and it will be the same again.
Worst thing is, the share price hit further lows with Winx, and I can't see it recovering, the markets have
lost complete confidence in the tosspot. It wasn't even this low with Puntland/Phillipines dusters.
Best case scenario would be plans for a second drill, location based on the analysed data. Very slim chance in my opinion, but who knows. We would certainly need more money for this! I bought another grand's worth just in case.
This aint over yet...
Living in a dream world!! You won't here anything from rmp until they find a new project which could be years away
Would be polite if nothing else but IMO this lot aren't exactly 'pro-active', so anticipating a long wait before this becomes interesting again.
I'm pretty sure the lack of a conventional road means we can only drill during the winter season, which ends in April. So being realistic the earliest another drill could take place is early 2020, unless something crazy happens. Therefore, no point rushing anything, and my honest opinion is that whilst the Alaska project isn't over yet it could be on the backburner for a while. Meaning the board will have to chase alternative projects with the current funds available (or raise more)
Would be fantastic if we got that...
As someone has mentioned here, it is likely that the plan was just a get together stuff on the assumption there is plenty of oil there.
Now give it to Repsol and Armstrong. Even 50%+ to them in exchange for a drill will be good to all shareholders. They know the place, have more data and they have a balance of maturity and entrepreneurship.
There should also be a review of the Winx-1 program to avoid repeating same mistakes.
It is easy to say in hindsight, but this project did not seem to be based on quality computer based information and analysis.
The four companies got together, likely in Perth.
It must have seemed like a great idea, let's go ahead guys, Wooosshhh.
Oh, and tell shareholders 30% chance of success.
I am no expert, but has any other drill program in this region managed to find water followed by clay?
Did the three CEO's each review the technical grounds for drilling Winx-1 in the final spot?
Or was it gung ho approach....
Phrontist