Member Info for Bridgedogg1

The wording of the RNS.... do they have to make an announcement about the cash raise before ASX reopens - yay or nay - or might it be confirmed after this date?

What would be better now - that they raise monies or they dont come to an agreement???

Buys and sells have been around 0.7p since open. Just the fact that yesterdays close went to 0.725% adding to the % fall today. Strong support at 0.7p, plenty of buys going through in the £ks. No way SS is sitting on his hands ATM, oil is flowing, update tomorrow IMO

Dont think so, low volume bringing it down

Let’s not forget the potential on the IOW. If we could farm out on that I would be happy though don’t think that’s the current plan.

Seadoc's £30m vs Steptoes £1bn, somewhere in the middle i reckon :)

Any advice on best spreads on various platforms? IG is absolutely horrendous, always seem to be paying on the Ask.

Seadoc, If you use a more reasonable multiplier as you suggest, say 5, your calcs confirm that value of the single horizontal well = current market cap? Sounds good to me. What about HH1 which is already flowing = another £5m. What about the other planned wells = number of wells x current MCAP. What about all of the other assets....

Also don’t forget we flowed over 300bopd from a 70ft vertical. We now have 70x oil exposure in the horizontal. Shame we hit water at the tip but there you go.

So re-reading the last update:
Pressure build up
Dual flow from hh1 hh2z planned
New connected pressure increase OIP
flow rate over 1000 bopd hh2z
Simple fix on water ingress
Production plan submitted
CPR and reserves based lending upon completion

I can’t believe that holders would be selling now. Yes the water fix may take a little time but It won’t be a relatively long time to wait. Update would be nice but unlikely that things have gotten worse since the last rns which was post clean up. Keep the faith. Almost there.

Correct on all points DM

Seems well supported at these levels

Buy when others are fearful.
I usually only lose money when everyone thinks it’s a food idea to buy.
DYOR
GLA

Nothing today by the looks of it. That’s a full month since the last update and the one before that was a month previous. Looking good for tomorrow. GLA

Let’s not feed the trolls today

The quality of posting on hot copper is far better than LSE, wants alway the case.

Generally I don’t have a problem with cash raising when it’s for a specific purpose. If DW has said its for progressing Yukon, or 3d analysis or whatever then that’s ok, I think raising money when you don’t need it and have said you won’t has caused some large holders to sell today. It’s just bad shareholder relations.

Dsfat, it’s not a theory, SS stated via rns he is in discussions with partners about diluting partners interest in exchange for funding. Not quite flat earth is it?

For the first time in a while there was no large sell on the close. Maybe price is too low for them or they hit the volume target earlier in the day.

Agree its very strange to put that out in an email and not in the RNS. Also strange to cash raise prior to huge drill with £5m+ in the bank. Will we find out tonight I wonder?