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No, I was looking and referring to the rise that peaked around 8th August at 3.25p before dropping back to sub-2p. Then the rise to mid-October to around 3.5p when the share price was on the point of dropping back down just before the 'unsolicited approach' nonsense, after which it did drop back down to just over 2p. Then the 2 peaks on the 8th and 15th of December which hit resistance at just over 4.25p before falling back to 3p and also on the 9th of February when the share price was back over 4p before dropping back down to 2.75p.

Apart from the 'unsolicited approach' RNS, which rather erroneously took the share price higher into the 4p to 8p range, the share price has been within the 2p to 4p range for about 8 months now. So it would be nice to get some real news which will take it back into the higher range of 4p to 8p - or higher depending on the news.

Let's hope that this current rise ends with some 'real' news - ie. PSC, volumetrics, farm-out, etc - that will see the share price rise to a new high. So often this share has risen and then stalled on no news and fallen back down.

Unpredictable nonsense here if you ask me. We get a positive RNS (the Pitfield Development Plan) and the share price dips; then on no news it starts to rise; and I thought that this would be a good share to add to the new ISA year but oh, no, it decides to rise first. Adding at 6.5p was far more attractive a proposition than adding at 8p plus. Maybe now the current buyers will be looking at selling them when the ISAs start to fill. Who knows. It's just unpredictable nonsense.

But then I am excited really because as soon as they drill any of these copper prospects, and subject to XTR hitting zillions of metres of super-high grade copper, I can use the rise in the share price to get the hell out of this share for good. Birdie is a waste of time as are all of his minnow largely African-based exploration companies.

Yawn, yawn, yawn.........

'Xtract has an option period of 18 months to earn an initial 51% in the Licence provided Xtract spends US$500,000 in exploration over the period.'

18 months, blimey, what's the excitement?

More likely to go back to 0.8p if you ask me.

There is just no reason for the SP to rise on yet another lacklustre small-scale acquisition.

Exactly. XTR just acquired one of these copper prospects a while ago and that is yet to be drilled. And there certainly isn't anything to get excited about until they do some drilling. Plus they still have Bushranger but nothing has happened there for ages. And Birdie has several of these types of companies, all with lots of exciting prospects but all just about worthless. When will people ever learn!!

Seems like a rush to get news out - it also seems like a rush to get out on news.

My spread figure was from the information on here - Spread: 0.10 (28.571%)

Ridiculous 28.5% spread luring punters in at 0.44p/0.45p or more when the sell price is 0.365p.

Maybe the correct figure was 2,580bopd - and not 12,580bopd. Maybe it was a printing error. Maybe it was deliberate. 2,580 is sort of around the 'several thousand barrels a day' though maybe a bit low though 12,580 is wildly more than 'several thousand'.

The whole rise from 0.65p, where the share price was on the date of the TO-14 drill results, up to 1.35p looked to be totally ungrounded and false and now I can see the reason why the share price spiked as it did: false information

The Half Year Report is out today and there is a blaring disparity in the information regarding the TO-14 drill which I have been suspicious of for some time now.

The RNS dated 28th December contained the following statement:

"The TO-14 well penetrated the entire Binga reservoir section (~80m column) with potential pay zones seen in multiple intervals. TO-14, with a total depth of 781m, was drilled in close proximity to TO-4 as an offset well from the best historic producer in the original Tobias field; a well which produced at its historic peak 12,580 bbls/d despite only penetrating the first 8m of the reservoir."

What I could not work out at the time was how one well could have produced so much oil - 12,580bopd - when the whole field, which was I believe about 7 or 9 individual wells, only maxed at 17,500bopd. It didn't seem to make sense that if the wells were all averaging 1500 - 2000 bopd how one could be at 12,580.bopd.

In today's Half Year Report it now says:

" Following the completion of the TO-13 well, the operator at KON-11, Sonangol, moved the rig to the Tobias-14 ("TO-14") location, where we drilled near the most prolific historic producer of the Tobias oilfield, having reached several thousand barrels per day alone at its peak."

So according to the Half Year Report T0-4 actually only peaked at 'several thousand barrels per day' and not the previously quoted 12,580bopd. That is a lot of difference.

It looks to me as if the figure was deliberately bumped up in the December RNS and that is what caused the share price to go on its wild rise from around 0.65p to as high as 1.35p in January. It was also behind some of the wild flow rate production figures that were being bandied about on this board.

Naughty, naughty, naughty.

The news gets worse. Now their partners at Mt Weld have pulled the plug on any further investment in the project. Never a good sign of what is there.

Mt. Weld Update

28 March 2024

Corcel plc, (London AIM: CRCL), the Angolan focused exploration and production company, announces an update to its Mt. Weld rare earth element project, located 1.5km west/north-west of Lynas Rare Earth Element's Mt. Weld rare earth oxide mine, near Laverton, Western Australia.

Corcel's partner, Riversgold Limited (ASX:RGL) has informed the Company of its withdrawal from the Mt. Weld earn-in agreement, as part of a much larger tenement rationalisation process undertaken by RGL.

This decision will leave the Company with an 80% interest in the project, with the balance of 20% being held by Extraction Srl, an entity in which Corcel's Executive Chairman, Antoine Karam, owns 45%.

With the current and future shareholdings now clarified, the Company is assessing its options and next steps regarding further development of the project.

Corcel Executive Chairman, Antoine Karam, commented: "We thank our partners at Riversgold for driving Mt. Weld forward over the past year, including management of the initial drilling campaign at the project. While it is clear Riversgold's significant project rationalisation effort moves them to focus on other avenues, primarily lithium, it leaves Corcel with ultimate control of the project's next steps."

https://www.londonstockexchange.com/news-article/CRCL/mt-weld-update/16400834

Well at least we now know why they didn't release the flow rates before the conference (as many on here were confidently predicting). They haven't got any flow rates to release (as yet anyway).

On thinking about it, maybe that was 5 times less.

From experience I would confidently say that taking a long time to flow test a well is a sign that they are having trouble getting it to flow. No news in this business is usually bad news. They have now bought themselves some time but there is still no guarantee that this will flow at all, let alone at the high figures to meet previous production levels.

TO-13 might flow but from memory that well historically flowed at about 7 times less than TO-14.

You lot make me laugh. Any way you can twist this around to find the positive. Talk about rose-tinted specs.

Personally I am quite happy to wait for further news from the operators. If they can get decent flow rates then it will be easy enough to buy in and if they can't, well I've got nothing to lose and I won't have to panic sell all over again.

There are a lot of very big sells going through as delayed trades - all in the millions - and a few buys going through but all in the low hundreds of thousands.

Just one question TK44:

Are you being serious or are you being sarcastic?

And look at BCE - Beacon Energy - more recently who claimed their drill was going to flow at 900bopd but they only managed 40bopd.; and look at Desire Petroleum in the Falklands who declared an oil find that turned into water a couple of days later.

Every dill is differrent.

Yeah, bouncing strong!!!

Let's believe that TO-14 is going to flow at 12,500bopd - that's 2,500bopd net to Corcel.

Or that is what we were led to believe anyway in the RNS dated 28th December 2023. Unfortunately it hasn't happened so far.