Member Info for Dan1605

I don't what all the fuss is about, what's the chance that they'll convert them bearing in mind there are already a load out there sat at a lower price. I'd say a fat chance unless we hit 3.5p.

Tygra - The selling is more than likely coming from the Aleph warrants and not Paul Forest. - at 1.09 they are making an healthy profit. I doubt Paul would be selling at this price. We haven't had a TR1 from Aleph so assume they're selling their warrants.

Great news for UJO this morning, how a professional company should be run, unlike this shower supposedly leading this company. Oddie should be embarrassed at this mess he's made here with no attempt to steady the ship, I hope he's reading this. A few will be tempted to sell (even at this price) and invest in UJO. Interesting how two partners in the same asset can run so differently.

The big difference now is we have Aleph. George has to keep them sweet and make them a good return. They are advocating a dividend of 50% (as per Q&A) so that shows how aggressive their being with their requirements. It's a different company and we have them to thank for that, and of course GL.

Morning Mirasol!
A busy week next week, the rig will be ready and what a thing of beauty she is. I'll be making the short journey to take some photo's, ping over your email if you want them.
ATB
Dan

Mirasol, I've been investing for 16 years and I can count on one hand the number of people I've come across who genuinely want to help investors without motive. You're not one of them so pull the other one.

Mirasol - as an activist you seem to care more about the sp then what's actually happening on the ground, probably because you're powerless and can do nothing about it whereas spouting sh*te on here just might deter investors. You're a sad individual, at your age I'd be making the most of life.

WG818 - what were they previously holding? Interested to know why you think they've dropped.

Garwool - My thoughts are that Alepha have exercised the warrants to inject some cash in case the side track overruns. Part of the agreement (not that they need permission) would have been that they sell some/if not all to recoup some cash. Yes, Aleph would lose out in the long run when the sp recovers but it prevents a placing. Just a theory. If Aleph had held onto the warrants we would have seen a TR1, right?

Caravan boy - the tweets are coming over as a bit of a ramp because the sp has tanked and GL is no doubt trying to hold up the sp whilst clearing the warrants. I would be surprised if this is Forrest, it's more likely to be Aleph selling the 120m. I wouldn't read to much into the tweets.

Somebody is clearly determined to take this down. - not helped by the silence from Simon Oddie. I'm fast losing my patience with the lack of comms. Maybe Pershing could look to clear this lot out.

A great summary Hebert. We are certainly not alone here, there are many retail investors sat scratching their heads over these ridiculous valuations, some are are very close to throwing in the towel. You have to remind yourself of the investment case as these markets can very easily fool you into thinking there's more going on, the newbies will fall victim to this, you can spot them a mile off on Twitter, casting doubt on their investments. Anyway enough of the psychology lesson, the investment case is pretty solid.

It makes you wonder whats been going on here, the 1m sells have suddenly stopped. I'm a big believer in MM going short and seen it many times. We've had no TR1's which begs the question has anybody been selling? When this breaks 0.90 it's going above 1p quickly, I'm hoping that's the last time we'll see sub 1p. Still have the AH interview to come.

Fag packet and apologies this may not be entirely accurate but here goes,

740 barrels * 0.3 = 222 * 85 x 365 = £6,887,550 = current Wressle Revenue
1400 barrels *0.3 = 420 * 85 x 365 = £13,030,500 = Projected Wressle Revenue after upgrades + Gas.

Now apply a PE and add in £4m cash

The current valuation is a joke and clear that retail don't care about valuation, they're trading volumes and chasing the next rainbow.

Still in a closed period I believe Tamer - presumably it's the Philippines that's triggered the close period.
Looking like another great day, 50dma broken and next resistance is 0.90 which corresponds with the current order book. Hopefully we'll start chipping away at this later today.

Thanks for the analysis Jaczar, I agree. With regards to the SP, this was already starting to move both technically and on the back of pending Blue Moon results. I actually expect the SP to move higher over the next few weeks.

An interesting few weeks ahead and the chart is setting up nicely. Now back above the 20dma and closing in on the 50. Just need volume which these updates will hopefully deliver.

Agree Golden, we just need more volume. Let's assume we leased that 2nd drill, how much cash would that bring in?

Not sure Serif but I was thinking the same earlier, it looked like there was a deliberate attempt to take it down. Surely you sell into the rise and at least let it rise first, what we saw earlier was the price rise, volume dry up for brief period and then sells at the bottom.

Yep, saw it. We had a flurry of buys and then they ticked it down on a 1k sell. Berenberg are bidding for stock for the first time in months so hopefully a bit more volume and we're off. We need more volume than this if we're going to move up, we're still fighting a head wind with the general markets so not expecting too much.