Member Info for Bridgedogg1

We raised $8m 6 weeks ago, have increasing net income and pipe fix at Shannon has been cancelled for now. We haven’t spent money on Cuda yet which is what part of the placing was for. Cuda partner owes us $3m which we are taking from their revenues.

Yet to see a single half legitimate post about what a placing now could possibly be for. Just stop it.

Some nice buys going through, another push on 33p soon.

I don’t believe there will be a placing before CPR at which point we are looking at farmout or RBL but if there is not sure I’d be too worried, it’s not going to be at a huge discount and it’s going to go towards developing 1.9bn bbls of oil. Anyway, haven’t seen any point that causes me to believe a placing is required, least of all our strong financials and production. GLA

Completely agree OB. Fortunately plenty of news waiting in the wings, something this week I hope.

HFB ignored the label, went with the share price

The decline is difficult to fathom with no delayed trades and buys outweighing sells 3v1. Pressure should build for a strong recovery here, then rerate.

Have the sellers all gone now? That would be nice. Everyone now holding strong with news about the discovery spreading.

Unfortunately sentiment isn’t controlled but this board, if it was we would be way over £1 by now. Those that know will do very well out of this one.

https://www.google.co.uk/amp/s/oilcity.news/community/2022/01/25/chesapeake-energy-sells-wyomings-powder-river-basin-assets-for-450-million/%3famp

Original deal

https://www.ogj.com/general-interest/companies/article/14198791/continental-enters-wyoming-powder-river-basin-sets-2021-capex-at-14-billion

Looks like we are in the sweet spot.

More than doubled oil production
Oil price up 30%
Invested in and upgraded Shannon faculties
1.9bn barrels oil discovery

Share price down 20%

Buys flooding in now, some big ones too

Lol, not bad really, you should be happy come close

Post 2:30 buys should push this above 35p IMO, finges crossed. GLA

Personally I think the deal was done on Cuda when news was released. Some how AM knew we had it and therefore didnt need to keep the extent of the recovery confidential any longer. They already owe us $3m, we would have to pay very little to pick it up.

Yesterdays sell off bounced us off the 20 and 100 day moving average and the bottom of the range since the run up after news, its a fairly good indicator of a persistent (upwards in this case) trend if we can manage to get one going. A little bit of news should push us over 41p resistance but in the meantime I think the MMs will be keen to see what kind of volume comes out of pushing this higher, perhaps this afternoon. I expect significant buys dropping in once this breaks 33p and then 38p if we get there. The sellers on the way up have mostly been cleared out, we now just have the nervous nellys left running scared at the bottom of the range.

Looks to me that the 300k trade was mid point at the time, perhaps a matched order?

MrE, yesterday multiple £25k buys didn't move the share price but £2k sells dropped it half a penny. Im not saying there is a big conspiracy at play, just that MMs move the price around to generate volume to line their own pockets, supply and demand isnt always the deciding factor. They move it down to encourage selling then move it up to encourage buying, at the end of the day its the same price but they have taken advantage of fear and greed to increase volume.

Feels like they might let it go back up to late 30s today.

Yes Shaa mid feb should be, and almost certainly we will get an update on Cuda and discovery along with it almost.

Just read that yesterday saw the largest market comebacks in history, and we only experienced the downside sell off. Should see a strong recovery today on general sentiment alone…oh and the small matter of 1.9bn bbls that have no assigned value in our current MCAP. Come on Mr market sort it out already.

Summary - there’s no gold there.

Also the slaw of pilot mountain must be one of the worst deals I’ve ever come across, should have been our key asset, instead sold for a pittance. Sorry to be negative but I’m done here.