Member Info for BlackBat17

Some reasonable buying going on this morning

A few buys coming through this AM but most of them are sub £20 in value - why bother, given broker fees?

25,000,000 bought after the bell.

Buy or sell?

We need a Memorandum of Understanding with 'an unnamed oil major' to get this thing going again.

And then a farm-in, obviously!

Unfortunately if you compare the maps:

https://www.slrconsulting.com/public-documents/cgg-algoa/

https://www.towerresources.co.uk/operations/south-africa/

https://www.petroleumagencysa.com/images/pdfs/Hubmap0923.pdf

...then this 3D survy is starting south of the TRP block, and so not including any TRP acreage. It looks like it is surveying Total Energies blocks 013PR and 231ER.

Back to the wait...

In4dedros - thanks for clarifiying.

" I saw nothing from the company guaranteeing a farm - out but I did see RNS stating a company had agreed to pay $750,000 for the exclusive data room opportunity.."

When was this RNS posted? I had a quick look at all RNSs for this year and cannot see it.

Given there are 10,394.07m shares in issue, can you show your working for a SP of 18p?

https://www.proactiveinvestors.co.uk/companies/news/1002311/harbour-hurricane-igas-here-s-some-handy-tips-when-it-comes-to-valuing-oil-exploration-companies-1002311.html

Correction - 14%!!!

With just 12 trades.

Four trades so far today and three are sells - and SP is up 10%!!!

Interesting - something seems to be driving the share price up substantially this morning.
I don't think it is the forthcoming presentation at the end of the month or the JP Morgan increase in shares - those recent RNSs are almost 'non-news'.

Presumably local objections would be steam-rollered in the name of a 'national emergency'...

A straightforward way to get a ball park figure of how much IGAS and other similar UK companies are worth would be to compare them to the value of US fracking companies with similar reserves.
I suspect the estimated value of them would be many times their current values!

From preliminary results:

· Cash balance at year-end of $10k (2020: $10k).

Is that it???

Even if they pay themselves in warrants they are going to need some cash, even if it is just to pay for hiring the room for the AGM!

I was suspicious about the recent rise - why were people only buying towards the end of the day? If people had inside knowledge they would be buying throughout the day as the news spread.

Looks like another pump n' dump operation - and there have been at least two in the last few months where concerted buying has driven up the price. A good way to make a few bob - until you get caught!

If I was the president for life of a country, and my health was failing and I was worried about being overthrown, the last thing I would be thinking is: "Oh - I must catch up on all that paperwork I have been putting off for the last six months!"

I don't think the Shell esults will make a jot of difference to our share price.

JRich20020 - that 6 to 9 month delay you mentioned - is it based on the track record of previous Cameroon decrees?

Thanks for clarifying that.

6-9 months timescale is not good though - all that gear stored at ports etc, will be costing money, so presumably another placing on the way at some point.