Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone here.
All dependant upon the gas flowing with no **** ups ….the flow rate being critical. Even if all is good, I would not expect dramatic multi bagging as the gas price is below pre Ukraine, more a steady uplift over summer into autumn as the gas/cash gets delivered and maybe spot prices pick up.
At least jay and bob have fronted up with the interview
All good derisking news this morning, but don’t expect a huge rerating until the flow rates are known and depending on what they look like? If the tone in this RNS is confirmed, movement in April !! My average is 2.20 but not buying more as been stung in these situations before…. Good luck to all long term holders and hoping we get back into the black in April/May….
having bought into this at 2.90 in Sept 22, i feel utterly short changed over what was proposed today. Will hold and await the outcome, probably should have done my research better, having 1 large shareholder always leaves open to this sort of opportunism. what is happening here does not quire pass the 'sniff test'....!
Previously seen shares 'suspended' in situations like this...until the financial position is clearer, any views on that risk?
With the amount of money sloshing round the 'stable' oil and gas industry co's at the moment, £16m is utter peanuts if anyone with experience moves in and is prepared to get to grips with the operational issues
well with tougher regulation someone should be knocking on their door very soon, should never be allowed to take senior positions again !
with a comment like ......................
''there is material uncertainty that casts significant doubt the Company's ability to continue as a going concern''
this may turn into no recovery, most on here still seem to have the rose tined googles on, which is understandable as its difficult to comprehend how an investment like this can go so wrong. Thats the wild west of AIM....and yes there should some reckoning for those at the company who have mis-managed and knew a lot more before ambushing shareholders like this.
Best wishes to all.
great to see the rise back to what i paid !!
Looking for much more here, is some good news leaking ?
Almost back to start of day trade price, not surprised as what was new in this RNS !!! not a lot, speculative opinion about what the well may produce, is the gas problem wishful thinking ! until they get some clear production numbers, rather than from 'models' the market will discount it wont make a big move. Get the sand out of the well, clear the fracking fluid, get the well actually producing the max oil output it can, explain what the development path to multiple wells in multiple fields looks like? then maybe the price gets back to £1.20 +, which is what i made a poor decision and paid not so long ago....lot of shareholders nursing big losses here..... whats the big game??....even if this well does $40k per day, thats $13.4m pa gross before the operating costs... peanuts when you look at the previous capitalisation of the company, hence the vision for the big plan, where will this company be in 3,5 & 10 yrs and what will it take and when (capital and partnering!)...... to get there?
Time to get any cash that's down the back of the sofa invested, when you think where this should be by yr end. Topped up at 6.90 yesterday and 7.30 this morning, looking for the brokers 20p within 12-24 mths assuming the well results and field development plan are as it is now reasonable to expect. Feels like the risk profile to the share value has changed dramatically and the SP is not yet fully reflecting this.
as the alternative option on news was a duster, great to hear they have encountered something 'hydrocarbon' . Fingers crossed its a commercial cracker in appx 30 days !
good adding value news on both fronts, not diluting shareholder value with more raises etc......
adds even more trust in this board, going in the right direction. They should be congratulated.
Unless that party is buying up shares at the current 'low' price to build a stake and then have greater control over a future bid ! the usual method
Payback time, don't sell unless you have to (need the cash now), time to burn the shorters !!!!, this price should really
be where it was at £1.10-£1.20 pending the flow news and if positive, big upside
well a refreshing start, well done the new management team, very hopeful start, long may it continue....
All placed our bets in knowledge of the risks. great to hear of the drilling started, 90 days and we will see if a dud or come up smelling of roses (gas!), no point in getting wound up about it. good luck all and lets hope by speculating we get the reward,
This sounds like a great and logical plan, key now will be delivering to it without negative news, more delay or disruption. If the new team can start to build credibility in delivering this,,...over time the sp should pick up nicely.
Over to the new team....and to deliver on what is being said !
Just loving Jays confidence and body language, still think he knows he's hooked a big one...hold on in there folks, hopefully patience will have a great reward.
the RNS seems to continue to de-risk the likely very positive final outcome of this well, so hugely welcome and topping up with behind the sofa cash while others fret.