Member Info for Conger2

I am back in sub .20 20m shares.

Buy on the bad news sell on the good.

I would like to see the opening flow rates from the re-opens well/wells, i know it will drop, but the lack of numbers and even though we had a big increase at the well head price and the need for a raising for overheads has me worried they are lower than expected.

@tpTuf .... Can we sticker this at the top of the chat board please?

Oilman72, there is no deramping going on (which suggests deliberate share price manipulation) , just grown up discussion between LTH who lived this share for 10 years in my case.

In fact read my last post it is the opposite, as i am taking about Fixed Oveaheads / variable well production overheads and the sales price increase.

Jasper, with the Sales price going from 2.9 to 6.1 USD at the head, they will be a massive increase in profit, as you have to believe at 2.9 USD the well was viable so all the fixed overheads where in, which means you only have much smaller variable overheads in the 2.9 t0 6.1 USD range and tax of course. I don't know the production Tax rates on GAS/Oil in India.

In the UK we call it the North Sea Levy or something like that.

Zag they need to prove it first to get good money for it.

I also think there is a fair chance of only say 50% success in the Refrac, meaning they need to do more work before the JV.

Yes I strongly suspect a placing before the Refrac, I think they have burnt too much cash with the delays, and i just don't believe their timetable with India bureaucracy involved.

Against this the sales price at well has gone up a lot, so fingers cross they have good flow rates.

Next announcement of significance will be pre - frack flow rates, with the good news around price going up from $2.90 to $6.10 you would hope they get the expected flow rates and cash neutral until Frack, but this has been dealyed and i think they will need more cash.

Fracking is in the July/August with Results Nov / Sept.

If those are good a good JV should follow.

Personally i think i will try and get back in the drift before Fracking hope for good frack and good JV. :)

Subsequent to the receipt of the Consent to Operate from the Gujarat Pollution Control Board, production has re-commenced on the Cambay field together with gas sales.

--- Production has already started... Read it again DOH..

Sell on good news buy on bad .... not entirely surprised as Oilex just keeps giving...

I see a golden shower forming....

but it is dropping?

To be fair once you start selling 80m shares off you push the price down anyway, so maybe any £8k compared to what i got at the moment... but if it goes over .40p .... that is 80K more. lol

I got out in good profit that is all i need remind myself...

Yes but only 5m already sold today already and banked 1.5k on it.

I Sold 80m at @ a little over 0.28 earlier this week so if this takes off if would have been ...... £8k a .01p ....

thinking i sold early lol !

back in... lol

https://www.theguardian.com/environment/2022/mar/21/johnson-announces-aim-for-uk-to-get-25-of-energy-from-nuclear-power

Nothing much will happen until people are flying again.

ie After the Ukraine War and COVID effect but then the stabilisers come off big time.

.28p even lol

good point the 28p ones are a bit of cert IMHO.