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There are not a lot of trades going through - only 23 appearing on here so far - but there is only one direction the share price is going - 20% up even on this low volume.

I'm not a completely mad optimist like some of the LTH posters here but if either of these wells hit a sizeable helium pay and the gas flows at good to high flow rates then I will safely predict a share price that will peak at £1 for a £940M m/cap.

Bit early for posters here to say they are losing/have lost money here.

Well there wasn't much of a problem clearing the placing stock in 2021. The share price had reached 14p and then the placing was announced at 10p. The SP never even fell to 10p, stopping at 10.3p and was then back to 14p within 2 days and up to 24p within another couple of weeks.

Now the placing is out of the way, and as it was obvious that the overdue placing announcement was the only thing taking the share price down, I reckon a return to 9p/10p would be a fair price for all pre-spud.

So obviously now the challenge is for all shareholders to play together and buy more shares to get the share price to rise to between 13.5p and 15.5p before spud. This is the challenge. Buy more, sell less, preach the word and above all be positive.

In 2021 post-spud the SP only fell back to as low as 18p, equivalent today to 11.5p, before Helium shows took it back up again to 28p (18p today) and hopefully this time the drill will reach TD and be able to complete the logging, etc which should see further considerable rises and then I for one can forget all about the f*cking SP in 2021 and all these bloody dilution inclusive comparisons.

Or maybe I am just an optimistic dreamer.

Of course the other problem is that with spud imminent the SP will need to rise quite soon and quite quickly if it is to more than double in the week or two before spud, though I do believe it is possible.

Sorry that posted itself before I'd finished.

In 2021 the SP rose to between 21p and 24p pre-spud which allowing for dilution equates to between 13.4p and 15.4p - a considerable rise from the current 6.2p.

Maybe I am bring optimistic but such a rise is certainly possible and would be very welcome.

ATB

Funnily enough the current share price and m/cap is closely aligned to the SP and m/cap at the time of the placing in 2021. In 2021 post the 10p placing there were 600 million shares in issue giving a m/cap of £60M. Now in 2023 post the placing there are 940 million shares in issue and the same m/cap of £60M equates to a share price of 6.38p - so very similar.

So now the question is: are we going to get a similar rise in the share price pre spud? In 2021 the SP rose to between 21p zndc24p.

SP71 - Thanks for the link to that article. Blimey, 66 million barrels at a depth of 700 - 800 metres in a field that has already produced multi-million barrels. There had got to be a very good chance of success.

I bought some a couple of weeks ago when the upcoming drill was first announced and I've just got some more now. Usually things ease up on spud but because we didn't have a pre-spud rise and there is plenty of board interest I think we might get a belated rise now. I don't mind holding anyway as there is a good chance of success and then I will buy in far more heavily if the drill hits flowing oil.

I think that there are also some drill results due soon from the Mt Weld rare earth elements prospect in Australia, which has been farmed out to Riversgold, an ASX-listed company run by our old friend, yes you either love him or hate him, Mr David Lenigas. Personally I am okay with him though I do feel that after a long absence actually running companies he does have to prove himself once again.

ATB

$10 a barrel sounds a bit low. Besides the price of oil has just gone up by nearly $10 a barrel in the last few weeks and by nearly $20 a barrel since June. Maybe double your figures or even treble them!!!

The good news is that we won't have to wait long for further news as the prospective oil is going to be reached at a depth of only 700 metres. As from today's RNS:

"The traditional Tobias field reservoir is in the Binga limestone, with 4-14% porosity located at a depth of approximately 700m. Historic peak production at Tobias was 17,500 bbls/d with 29 MMbbls produced over the life of the field."

I expect that this will take off with good drilling results and then a 5-10 bag from today's share price will be easily achievable. Still no trades going through for now though.

I wouldn't worry about the rampers and pumpers for now. I have live trades on this and only 9 trades have gone through since the RNS so there isn't much going on here as yet.

In fact the rampers might do it some good as we have missed any pre-spud rise and this is so far under the radar a bit of enthusiasm can only help.

I just said that a bit earlier, though Sonangol are not actually the largest oil company in Angola as per bopd, though they are the state-owned oil company which does help.

Major international oil exploration and production companies active in Angola include Total, with 41 percent market share (800 bpd), Chevron with 26 percent market share (510 bpd), Exxon Mobil with 19 percent market share (375 bpd), and BP with 13 percent market share (252 bpd). Other international players include ENI and Equinor. Sonangol also operates through its subsidiary Sonangol E&P.

Sonangol produce about the same bopd as BP.

Davey50

The easy times to trade oil drills are pre-spud, though there wasn't much of a chance here as it has already spudded; on a successful drill - as at BCE recently - as long as the operator is confident of there being flowing oil in the well and there needs to be sufficient pay with wireline logging and porosity details; and then on flow test results, which will always be the biggest rise if the flow rates are good.

I don't mean that this could 10-bag right away, more over the next few months if the drilling goes well.

Not much of a reaction so far but this could easily 10 bag from such a small m/cap. I think most people were sitting around waiting for drill plans to be announced but instead the first well has already spud. Sonangol is the state-owned oil company so they are not going to muck this up. Other producers in Angola include Total, Chevron, Exxon Mobil, BP etc.

Correction: it is not a £5M m/cap as I posted. That info is innacurate. 1,460 million shares so at 0.23p the m/cap is only £3.36M. This gives considerable upside.

And Sonangol is a very big player in Angola where they produce 235,000 bopd. The sort of operator/partner who you can trust to make a good job of this.

Angola is a very big oil producer. Top 3 alongside Nigeria and Algeria. It might even be Number 1 - this link is from an article from July 2022.

https://energycapitalpower.com/biggest-oil-producer-in-africa-in-2022/