The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Agree 100%. It has really put things in perspective reading this board over the last few days, it’s hard to believe some of the losses people are sitting on right now. I hope it can be turned around for them. If there is nothing in the way of an update between Monday and Wednesday I’d start to get angry as it shows blatant disregard for the share holders who are waiting for some sort of update or explanation as to wtf has gone wrong here.
I’m still smarting over Peterkins ****y attitude in his interviews. We only plan for success (yeah look where that has got your company?) Me and my team are so experienced bla bla bla aren’t I just brilliant attitude. He pumped this to high heaven and sucked in a lot of investors with it. Ragin and very sorry for the people who have lost big.
No RNS from Carnarvon this morning in OZ. I’d say they are still logging and working things out. No news is good news eh?
Interested to hear the next chapter in all of this. I don’t think it’s over. Even if worst case there is 1-2 million barrels extractable that could be $80-160million worth. All depends on what the flow rate is too.
@Torreaguas where did you get the 12 million barrels of oil figure from lol. It was a 12 metre gross column that was intersected. There’s no mention of any amount of oil yet. It could be 5 million barrels it could be 500, nobody knows yet so best not the throw numbers about that aren’t verified.
They will struggle massively to raise funds. Even to get a raise if say 5 million would mean massive dilution and another 1bn shares added to the pot. And that’s at a price of around 0.5 pence per share. Given the SP at the minute a placing would probably have to be at much less than 0.5p to generate any interest.
Champagne on ice, we only prepare for success, we are so sure of ourselves because we have all these years of experience…bla bla bla. Yeah right Peterkin.
Totally different company though with more than just one asset to fall back on. I do still think yesterday was a big overreaction though. Typical AIM
Well if that’s the case and it’s not viable then so be it. They would need to get their skates on and give the shareholders the info on the other projects in the pipeline. My question is where does the funding come from to buy into the other projects.
It’s a pity the 80m number was talked about so much . If they had not given a number and said nothing just announced a 12m column and now assessing data the SP would be a lot higher than it is now. The cpr was wrong.
That’s the thing, the 80m column was expecting to yield around 32 million barrels. 12m is around 1/6th or that so if there is still 5 million barrels there and it’s a big “if” that they can get even half of that out that’s 2.5 million barrels at todays prices of around $80 a barrel (possibly higher as the year goes on, talk of $100 a barrel possible later this year) that generates $200 million. Is that still economically viable? Only the board can decide that and I may well be way off with my figures. It’s 50/50 right now and until we get and interview I wouldn’t give up hope yet. I’ve seen other oilers pull back from the brink over the years too.
Yes, an oil column has still been encountered albeit a lot less than they had bargained for. The question is what will the data say in terms of barrels of oil in place in the 12m column. How much is there and what is it capable of flowing. This is what will be the deciding factor in whether to continue and extract or plug and abandon. The next couple of days should give us a clearer picture. I managed to sell literally on the bell at 8am and got out at pretty much break even but I have dipped my toe back in again with a small amount this afternoon to see what happens and will probably buy more tomorrow if it drops further. This doesn’t necessarily mean the end.
It may be irrelevant but that article is 18 years old and 12m in one discovery can be very different to 12m in another, who knows what will happen, let’s see. You Pay your and take your chances.
Peterkin should be on doing an interview by now. He’s clearly dodging it,I’d say there are a few after him today looking for comment. Not so ****y now.
How did you buy at 0.71? Day Low is 0.77 is it not
I’m not with IG so it’s not rubbish
Can’t even get buy 5000 shares lol. Must be a big order filling
I tried a very small buy earlier for 10k shares and it still hasn’t gone through. They must be getting low on shares now I don’t see the point in selling at Thai price, I’d rather wait and see what the next step is
There is oil there, how much depends on the data that is still being gathered. Even if it’s a case of say 2m barrels extractable in todays (this years) oil price environment maybe approx $80 a barrel that’s still maybe a decent return of $150million. Anyway these are all pie in the sky numbers. I think In summary all is not lost here and we need to wait and see what the CEO says and what the plans are. It’s a tempting buy at this price that’s for sure (although I wouldn’t personally be putting much into it yet)
If you didn’t get out at 8am this morning there’s probably no point in selling now. It’s all a bit doom and gloom at the minute but probably best to just wait and see what the plan is going forward.
Serious amount of volume anyway and some big buys going through.
If 80m was to give approx 32m barrels then 12 should give approx 5-6m barrels but that not proven. Hard to know really. I think the drop is a massive over reaction though and it will bounce (hopefully) anyone still in may attempt to average down but this is AIM so anything can happen.
I await Leslie’s next interview to see if the over confident attitude is still there or if he is like a dog with it’s tail between its legs.