34% Jesus … this is so over done it’s ridiculous…bugger all was priced in hence us sitting at 2.5p…. Yet they feel they can rape you on a delay??? I feel sorry for those who had to sell….the MM’s are pulling your pants down and have the cactus ready… don’t give them the pleasure!
Mcap now about 20m for a producer with 1000bpd ?? And more wells to test??? ….come on
This will settle 10-15% down once the nervous/fed up have sold and honestly who can blame them!.. our saving grace is a low Mcap which has actually saved us from a complete mauling here..... The market had nothing priced in here... no 821 bpd... no 300bpd from H2... and so in my view the drop... which again is mainly down to delays but is that really any surprise to anyone ...Delay should be MB's middle name! Anyway good luck the leavers & the stayers... im in the latter camp after all 7 years here what's another year or 2!! ;-0
The positive here and its pretty good to hear.... is H1 can flow greater than the expected 821bpd..... and bring in much needed revenue... Once buck gets his finger out of the local Yaks a sshole and gets paperwork completed.
Re reading about H2 i think its a bit early to completely write this off 100%.... Oil did flow albeit very low 30bpd with stimulation fluids.... but there could be down hole issues... Not trying to overlook its crap news so far and it doesn't look or sound good...but we have to wait for full testing results.
If it was the other way and we had Oil shows when first drilling ...many would be saying we have to wait until we get commercial well RNS before the celebrations .
Cant see it crashing that much as sweet FA was priced in @2.5p.... its like the markets knew that Buck has done bugger all in 5yrs so nothing likely to happen except more delays... 10-20% after the initial panic my guess.... as said... sweet FA was priced in
Bloody annoyed we waited all this time for that....sales agreement still not fecking signed off yet...Jesus... the snails pace at getting things done in Mongolia is the reason its still stuck in the fecking dark ages. Buck is beyond useless i have to say!