Member Info for bonker99

Correctamundo :)

Now add cash (+0.2-0.4p @ £5-9m) for a 9.35-9.55p floor.

You may choose to note the low weekly close post-placing of 9.4p which is where I have the fat horizontal support line on my own chart at the usual place :)

All of this is predicated of course on the postulated +30% for $10m deal of course - in reality it'll maybe be something different, a smaller percentage for less cash or whatever but the salient point is that the likes of Miton have thrown in here with another £1/2m at 10p so you can see how these numbers aren't just randomly arrived at - like all placings they're measured on fundy stuff that most PIs don't necessarily know or understand but there's always a reason for the numbers they arrive at :)

PS: Don't forget to add their cash too :)

30% = $10m

Therefore 86% = $??m

Multiply by 0.76 to convert to Pounds

Divide by 238m shares for an SP floor of ?.?p

You can do it :)

I'm "tapping the board" to see what comes back mate - I know what the number is @ 86% :)

Feel free to extrapolate from that ;)

PS: Correct me if I'm wrong but in the presentation he suggested they'd be looking for +30% of the field in exchange for the $10m owed by SNPC so that gives you a valuation straight away of c£25m.

Hence the size/price of the 10p placing to arrive at the current c£25m mcap - go figure.

Morning.

Sure, if I'd been in this at 6s/7s then I'd 100% have been out at mid-teens myself but what was set in motion with the big gap up to 9s ahead of the 10p placing was a break of the prevailing downtrend (very large Descending Wedge from way back at 20s+) with a high at 18s substantially higher than seen for a very long time here and that's the bull return-to point in the short-medium term but for now it's just a matter of collecting shares (preferably from wobbly PIs) ahead of Mengo flow rates/production confirmation over the coming weeks so it's a hold/add for moi from here.

What's of most interest though is what happens when that 16s is beaten and becomes the new floor because then you're certainly looking at a return to 20s/30s as part of that move with a giant IH&S in play (over time) for as high as 60s-80s which, presumably, will come into play on Djeno/Vanji drill hits later in the year, certainly on a Vanji hit which would be jaw-dropping here and, so far, they seem to be doing pretty well even with the ropey drill they were using on 103 - two tonnes PSI down that deep so you need to be using pucker kit which I'm sure they'll sort for 104 :)

Finance? Well if Mengo flows @ 100s bpd then they'll build cash over time but if they want to hurry 104 up then, yes, some more money will be required from somewhere of course but various routes to solving that now you'd think, not just another equity raise but even if it came to that they've got plenty of news to drop to forward-sell another placing, quite probably higher than at 10p imo, but time will tell on that, it's not like they're on their uppers at the mo following the £5m cash injection at 10p.

A higher percentage ownership of the field is a double-edged sword of course - short-medium term cash requirements will grow but the possible longer term upside grows with it (possibly substantially) so on the face of it, it would appear to be $10m from SNPC which will pay for 104 or they need some more cash to fund the higher ownership percentage but this then becomes even more attractive going forward once the cash is squared away, however they achieve that.

Top > bottom 38.2%/16s mate - if/when she beats that she's going proper gangbusters.

Fibs now is it? :)

The key Fib on this chart is at 16s which is why it was the high close before the dump back down again.

That set this up for a higher lows vs that mid-upper teens flat top formation over time - that first higher low tbc of course (low 9s on the 76.4% retrace Fib is pretty darn good) but at some point I'd expect subsequent lows to be in the 11-13p range.

And yes, I know where the other number is ;)

Well those others have both got Death Spiral deals hanging over them so they'll be prone to wild PI-raping swings as is the norm but if you're lucky enough to catch one of those right then GL to you.

This is obviously a different animal now with genuine opportunity for both traders and investors (especially) if the ducks continue to line up throughout the year and on that basis it's a buy any dip proposition for the forseeable imo if you can live with the games in the interim period. I can live with the risk/reward (which may prove to be phenomenal) and just keep buying the lower it goes - if it goes lower - but each to their own as per :)

Just watched it - he struck me as a guy laying it all out there with no, apparent, attempt to BS anyone with rampy promises of being millionaries next week which is usually the way ahead of a further raise via equity.

The drill has obviously been very successful, likely enormous increases in production are just a couple of months away, a proper attempt at Djeno/Vanji to come later in the year and options for further funding outside of equity/dilution should exist now with the Death Spiral finance being cancelled and there's a decent likelihood of getting more money from SNPC and/or a bigger chunk of the field which is obviously very attractive now following the deep/high pressure Djeno hit.

I'm not sure how it could look any better going forward tbh?

$63

https://oilprice.com/Energy/Crude-Oil/Global-Outages-Boost-Oil-Prices.html

https://twitter.com/zerohedge/status/1091396275021533184

http://www.livecharts.co.uk/MarketCharts/brent.php

:)

It's all good :)

Brent spiking back to $62.5 at the mo, shaping up for a $65 move perhaps.

Have a good one y'all :)

It's 10p because of the mid-upper 20s pivot range, end of.

There are no sellers mate - it's all smoke and mirrors :)

https://t.co/oTkKf8t6Me

@ atg - they're totally full of it mate lol

MMs just flipped 1/4m for +1%, must be getting tight now ...