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I am not in agreeance about the chance of much of a drop on spud,
Yes I would agree if we were still high in the teens, but as this has been ripped a new bumhole by the seller since the offshore deal, then it is now notably undervalued and only just in recovery process.
Add to that, these drills are likely going to be pretty quick, likely well under a month from spud to possible testing, so not much room to play the cycle, AND there is a LOT of potential for daily, weekly RNS flow on all fronts once this kicks off.
Cynderlad,
What conspiracy lol... as for him selling instead of buying, well he hardly held much to start with, so it really wouldn't do much.
Negative slant ?? I SAID it was better than NOTHING, but hardly worth the RNS paper it was written on.
As for what & when I post, I don't take advice from other posters, I post as I SEE it thanks, unless you are the LSE police ?
Ibug,
I would say yes it is worth it on a couple fronts,
Firstly, water cut is likely to ONLY increase, so disposal & transport cost will too.
Secondly, Adrian & Peebooo will have to find something else more worthwhile to do than sit in the bushes like a couple of dogger spotters at HH, trying to spot the lesser spotted illusive tankers that traverse the site and local area...
Well Clive, it might ALSO be the last chance to dump some and gain from the little rally it HAD lol,,, swings both ways....
I know one thing is certain, when you get such unfounded rises, it almost always pays off to drop into it and then sit and wait.
Ohhh and the fact Herbert is buying also means they are NOT in any form of closed period, meaning not much going on at this time....
Give me a shout when you see a REAL director buy, you know, £100k ++ worth, then you know they are more serious about the outlook, 5 mill shares in an Olympic swimming pool of 4.4 BILLION in issue is barely a gesture. better than nowt, but hardly worth the RNS, plenty of Pi with more than that.
Oktane, it was the 10p buy, deffo !!!
Ehhh NeoGeo !!! you mean you didn't manage to dump in the recent ermmm run and need some to push it up a little to get rid of the rest lol....
Thanks, MP, anyway I guess we will see soon enough, if they are placing and it was for something like Balcombe testing program then great !!
I don't think they would have the audacity to do one for SLBY as they have pretty much safeguarded leftover funds & revenue to cover that for now anyway.
Well it is not uncommon to see this sort of movement, which gets placee's a chance to offload some old stock in readiness for a new placing to maintain same threshold.
Angus have no restrictions in that respect as they have settled all the old carp now and reset the system to factory settings !
I see the more common level of trading in Angus is back, zero trades after an hour & half !!
Penguins,
It is simple, they will run an ESP (pump), that is not affected by difference in liquids, and it pumps out water direct from near reservoir depths.
The problem with natural flow is that you can shut a well in for a day, let the oil leg build in the well, which also gives a lower weight/hydrostatic column, and will flow out the oil leg built up, to a point where water coming back into the well initially replaces much of that oil column and simply stalls out to zero.
Not rocket science, and a pump will easily demonstrate ability to both flow hydrocarbons, and what rate of replenishment the reservoir to wellbore is (porosity & permeability) for potential commerciality.
Ermmmmmmmm yeah TC,,, That's why they are still £20 million in debt AFTER almost 2 years of production,,,,, £117 million profit !!! I think it is far more likely something else, not the undermined SLBY.
Lol Philboro, I hear ya, and hope you do see more substantial upward movement, though I know when I have been holding stock in similar out of the blue rallies, it triggers a lot of personal unease, in do you simply carry on and hope there are grounds for it and it is just the start, or is it more sinister and comes off just as hard, I know from my past experiences what i would lean to do, but it is also so easy to get carried along with the unknown too...
Best of luck though mate, been a tough one for many,
Be interesting to see if anything uber positive is RNS'd in the next 24-48hrs, as that would really show this as about as leaky as a cullender !!
In fairness Maddog, HITS may well be silent based on "we don't know what is behind this little flurry", even I am surprised, and I really do not feel it is related to SLBY, could be something Balcombe related or other, that said, I am still happy to see folk having a better day here !!
And I have always maintained it will have it's day again, just don't know where, don't know when !! but it is a start !!
Looks strong, THOUGH no real info or reason for that as yet, but it is at least offering some kind of hope for long term sufferers. All the best !!! lets hope they tell the market something good.
What a leg-end. more like !!
Ahhhh good, I will sleep much better relying on Pee Boooo highly intellectual & informative posts lol.....
I think you are confusing Balcombe with UKOG's Turkey testing lol..... now there's a cracking example of nothingness in a bottle. lol. Ps,,, How is Adrian (the mole)
Well I will leave the world to evaluate your high quality post Peeeeeeeee Boooooo,,, as clueless as ever, give Adrian my regards in the den !!