Member Info for Aimtrader1

So this isn't good news. The shallow drilling campaign might prop up the SP for a while but realistically we're now looking at 12 months+ before we get back out with a new rig. One to put in the bottom drawer for now. Will ultimately end up in a good place but will take longer.

agree - it's highly likely to be a buy

Yes. I think a fair chance you'll see it at over £1 within the next 12-18 months just on completion of the exploration drills. It will be several times higher than that once they get to production. Of course all predicated on the drills being successful.

100% agree - it was the right decision at the time based on what they thought (through the legacy seismic) they had in the Karoo. It's backfired unfortunately but was still the right decision at the time.

Seems v quiet recently. Hopefully he's OK.

100% the right man for the job. Patience people. Patience.

For sure they'll need to raise again for this phase 2 programme. At c.£5m per drill I'd guess another 10m min. Personally I've got no issues with this. Would much prefer they're properly financed to guarantee the strike. Timing of the raise obviously important and I'd guess it will be in the lead up to the next drill. But to be honest even if they did it at the current price I would be overly worried.

£5 might be a little punchy but I agree with the sentiment. IF they have what they think they have then a market cap in the billions is not unreasonable. The risk:reward at this levels looks very attractive. It's just a matter of waiting (which most will struggle to do - understandable).

Muscles - would you prefer he just kept drilling with the Mitchel rig and went through the remaining cash experiencing similar problems ? Just so he can keep to the original plan. Or would you prefer he do right by shareholders and get a new rig in to get the job done properly ? Knowing what he knows now (which he didn't know pre drill) then I'm much happier with this approach.

Muscles - they could have drilled your 3/4 wells with the existing Mitchels rig. Post realising it wasn't up to the job the plan has changed. Not sure why you seem to be finding this so hard to understand.

Personally I think this is OK and they'll be lots of good news flow to come starting any time from now (start of seismic). We'll then gave the geo on the shallow traps starting in Nov followed by (hopefully) drilling starting on some of these in Jan. We'll then announce (again hopefully) a discovery early next year before a raise to help fund a proper deep drilling campaign in April.

What's best guess on when shallow drilling could start? Jan??

haha fair Dean. I do sense it's v close though. The slightly bigger trades, the fact the Twitter feed has gone quiet, the fact the seismic is likely to take 4-5 weeks to complete and there need to get done ahead of the mid Nov rain.........let's see.

Well......got that wrong.
Tomorrow a possibility. Twitter activity has gone quiet (normal pre RNS) and remember the monthly newsletter is due by end of the week.
RNS tomorrow and newsletter to follow on Fri is my guess.

Some unusually decent buys post 4pm today totalling 55k. RNS in the morning confirming the start of phase 2??

the CBD oils already live. very low key launch onto site.
https://www.evesleep.co.uk/products/the-rescue-remedy-night-duo

lol - love that wyn and agree

Personally I think there will be enough news flow to get the SP moving nicely in the right direction. 1) Start of seismic 2) completion of seismic 3) start of geo for the shallow targets 4) confirmation of new targets 5) confirmation that new rig/s have been sourced 6) start of shallow drilling campaign 7) start of deeper drilling campaign.......On top of this we could be surprised with news such as new investment coming in. At the current price I wouldn't be at all surprised. The risk:reward at these levels look very attractive to me. Lots of people predicting a gentle decline as this now goes quiet until next year. Have you not been watching the way HE1 operate?

Second part of the comment yes for sure.

c.$5k traded in the US so far today. Note to newbies on here - if someone mentions the US price (good or bad) just ignore them as its completely irrelevant.