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.......characters crawl out of their pit to deramp this stock when everyone knows the fund would be able to convert any more under .4p from now on.

The only way is up from the current level. We've got more cash in the bank than we did when this was trading around .2p and the cash value of this company is around .5p by my reckoning which we're trading well below currently.

A solid foundation will most surely be formed in the .38p - .45p range now IMO.

Yes we know the fund will want to convert more in the future before some idiot says it again, but they will not be able to convert near .4p without incurring a loss as of Monday.

Enjoy your weekend and look forward to the exciting times ahead. Make sure to keep the facts alive here too in defiance of the crooks who appear on these BB's to mislead the vulnerable and line their own rotten pockets.

Why would it go down to .25p now?

Conversion rate is now .4p after today, so why would the SP go down to .25p?

If they convert enough in one go to get us down to .25p I'd be all for that because they'd be forced to buy us out for 11p in very short order.

Again it's quite simple once you get your head around. Every time they sell or convert it quite obviously brings down the SP. The closer the SP is to the conversion price the less incentive they have to sell or convert. At the current level after today they now have little to no reason to convert or sell.

We all know that the fund will be selling and converting, but the point is that they can't convert when the SP lower than the conversion price. At the current levels the conversions and sales must be timed correctly, which is to our advantage as much as theirs at the present level.

Taken a few more here at .39p bringing my average down to .44.5p to be exact.

I feel confident that this will be trading well above the current level next week. Not worried in the slightest bit at the these prices. Expected it to take a little knock at the end and kept some powder dry for a nice top-up.

As much as the European fund would like to convert ASAP they are backed into a corner here to some extent so they will not want to clobber the SP too much. If they sold many more at these levels they could end up crossing the 30% line and have to put an 11p bid for the company, which is not going to happen.

VWAP is still around .4p by my reckoning and that will be the new conversion price from here on in.

At .4p we're currently trading at a 60% premium to the .25p conversion price. If we trade at a similar premium to the new conversion price of .4p next week we should be sitting around .64p at least IMO.

Have a great weekend everyone and don't worry, things are looking very good here.

.........in spite of the sells. If this dips downward below .4p briefly I fully intend to double down here. Definitely money to be made with so many interests aligned at these low levels.

People spouting nonsense about this dropping back to .25p are trying to mug people here to line their own grubby pockets. People who have done their research here know full well this can't drop much lower than .4p given that .4p or thereabouts will be the conversion price after today. .5p is roughly cash value at the moment too, so anyone getting in under .5p will be handsomely rewarded in very short order IMO.

As we've mentioned before it's impossible for them to convert many more at .25p without having to make an offer for the company.

Shareholders, "The Fund" and Sefton are all aligned here for once in that we all need the SP higher. Sit back and look forward to the good times ahead folks.

.........Only a punt, but after seeing how this can move it's very tempting.

Also, bearing in mind this was trading in the 1p-2.5p range after the first time everyone thought it was a duster I get the feeling the drop is a little overcooked.

..........tomorrow said as if my some miracle the Virgin Mary appeared atop the borehole of Winx 1 and oil suddenly started gushing to the surface. This really feels like DW is playing the market and making big money off of these wild swings IMO.

Lost about a third on ASX, so people will have some sort of a guide as to where this will go on open.

https://www.youtube.com/watch?v=6jJkdRaa04g

Looking good. Someone loading up big time. Bodes very, very well for us all.

Compared to RMP the Risk/Reward is quite good here. In RMP's case, I'd say there is at best a 500% upside and a 95% downside from where it currently sits. In the case of 88e, I'd say there is at least a similar potential upside but only a 30%-40% downside from current levels. Looks like a no brainer at the moment.

Fingers crossed for everyone in here and RMP though.

.........courtesy of Frankie Laine, while we dream of mega riches.

https://www.youtube.com/watch?v=gSzd9DUo5Ig

Given that 6p-7p range is where RMP should theoretically hit the brick wall compared to 88e and after which start moving in tandem with 88e and then start to lag behind.

We also need to take into consideration that given there is little more to gain in RMP from 7p upwards over 88e it makes more sense in terms of risk to be in 88e. From 1.2p 88e has about a maximum 40%-50% downside on bad news. From the 6p-7p level RMP has a potential 90%-95% downside on bad news.

In short, RMP is the place to be for WINX if you are in it from under 3p. Buying at 4p-5p upwards, the gains are roughly the same as 88e and the risk terrifyingly worse.

RMP was way overbought, and as I mentioned yesterday 88e is much better value right now. RMP trading at roughly a half of what 88e is valued at is pretty ludicrous given RMP has no other assets.

Not to mention, even is this well isn't entirely commercially successful, the data will definitely de-risk things and add value to the licence since we now know there is definitely oil here. The data from this drill whatever happens now will make the farm-out deal (which is due in a matter of weeks) much more lucrative for 88e. These kind of benefits will not be enjoyed by RMP. For RMP it's shzit or bust.

...........compared to RMP. A lot getting priced into RMP at the current price compared to 88e. RMP's Mcap is now roughly half of 88e. RMP is way overbought at the current level.

88e is looking very good value compared to RMP now. RMP will start hitting a brick wall soon and won't be able to rise quicker than 88e from it's current level.

Not to mention that the well may not be commercial yet, so there's a long way down for RMP. I have a feeling this well may only end up being a partial success and give 88e a better clue as to where to poke a hole next. Sidetrack or another quick drill would be seen as a positive for 88e. It would ultimately be a death blow for RMP.

I was in RMP before last Fridays kicking and sold out at a little under 3p with an average of 3.5p today. If I'd have held until the end of the day I'd have broke even, but after seeing how far it has to fall I decided to move here at .9p instead.

Comparing the price this was at before the big fall I'd wouldn't have been able to buy many more shares with the money I took out of RMP today anyway so it's virtually a break even.

Let's hope for good times ahead.

..............and I get the feeling that they have chosen to release the bad news first. I sense that the Torok zone may well be the highlight of the well. Given how far ahead of schedule they are I get the sense they may have already poked a hole a the Torok and it's probably looking decent. It wouldn't make sense to release this news and then another stinker 4 or 5 days later which would do double the damage.

75p If it finds oil?

I'm having a punt here but that does seem slightly optimistic to me.

If there is oil in the first zone then we should know in the next 2-3 trading days.