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Graham definitely sent a subliminal message to Calvalley in the presentation. He stated that it is taking too long, meaning that they need to sign if they really want the deal. I hope they really do want it, if that is the case, we should hear news quite soon, the longer this drags on, the least likely it is ever going to be signed. The odds however are that it will be signed, fingers crossed.
Agreed, good volume if we consider the daily average of late but 23M shares exchanged (or approx £200k) is not like a leak that as awaken people in the know. And obviously there were not all buys. In my opinion, each day that passes by is a day closer to the expected RNS, tomorrow being Friday, some think that we will get one. And I would not be on not being the case.
Yes Tincan, more delays, common things on AIM, and to Sound unfortunately. It also seems that there is a golden time for an AIM company that comes around every 5 of 10 years. Ours was in 2016/17 last time. The irony is that we are in a much better position than then in terms of being a producer with revenue this year, decent directors and partners. I stick by my view that when sentiment returns, we could see huge and disproportionate surges in the SP, When or if will it happen, I don't know but I am hopeful it will.
Yes, but £50000 of volume (5M shares traded) is not something driving us very high. The truth is that it could be months before it really takes off. As long there is no juicy prospect, even speculated, the big money will stay out of this. We will see spikes on news , yes, but I cannot see big surges, and I mean going back to 5p for instance. Long term looks good though, but how long will we have to wait?
Tincan, yes it could explode again, but I am so disheartened with the previous drilling campaign, here or elsewhere, that I am more hopeful of development growth on actual findings than of exploration success.
Also, the shamble of the precedent drilling campaign will temper the speculation seen back then in my opinion. Nonetheless, I hope I am wrong, I am looking for 30p to break even, so a long way off.
Yes, StMary, only 10M volume, equating to 100K, so, imagine when the serious money will come back and realises we are back in business? I am not expecting anything crazy but certainly we should see 2P and steady rises in the next few months providing the company delivers.
I am sure that brings up some memories.
How can we be so convinced they represented so much potential, having it fully financed (so they kept saying) and not even drilling TE11? Any news on TE10 since it was plugged?
SP prediction on deal completion:
2p on spike.
And to all, the idea that the company are not worth more than its 4.6p valuation is irrelevant. It is the excitement of massive gains and successful prospects that drove this share and others to disproportionate heights (1 Pound). Some call it the market sentiment, I live in hope that the optimism will return and see higher figures than this miserable 1-2p range.
The quasi resolution of the tax issue is massive good news on its own. I think it cost the SP to devaluate by more than 1p when the tax issue was revealed and it has kept the SP low ever since. I am expecting a steady rise over the coming days, and, if the phase 2 funding reaches a positive conclusion, we should see significant further rises. Unfortunately patience is required, it is when we will start to sale gas that we will attract strong interest from the market. I do not exclude getting back to 20, 30p... medium to long terms. Feel free to give your opinions on the above.
As for TE-11, I imagine conversation at a board meeting with Graham Lyon and Mohammed Seghiri.
Mohammed: So Graham what shall we do with TE-11? Shall we preprare for drilling an appraisal well?
Graham: NO WAY, we might as well take a crew and drill a hole anywhere in the Tendara Desert and have more chance of finding Gas.
Mohammed: Ok, I was just kidding.
lol
Tanfinch.
yes thinking back to the £1 times definitely leaves me with a sour taste. I was amongst the ones thinking new car, new dreams on so on. Now I am averaging 30p and would be over the moon to recover my money. I will take 50p though ;)
Keeptofact.
Thank-you, I know Graham is adamant it is an error, hopefully the court will accept the tax authorities made a mistake. I am always worried of court verdicts when money and state organisms are involved. Fingers crossed.
keeptofacts.
If JP got it right on the tax issue, happy days. Anyway I am now focused only on the future
Not2sure.
Agreed, let me rephrase, I did not mean that the previous management had to apologise for the failure of the drilling campaign. I knew the risks and accept the consequences, I meant apologies for the mess they left behind, (tax issue, over hyped expectations...)
But lets not dwell on the past and embrace the future.
I-man
Very true. I always found odd that TE-11 never got mentioned after they decided not to drill it. It was due to financial difficulties and drastic fall of the SP at the time but if it was a potential "high risk high reward" target then, it must be one still. Really, I will never stop to be amazed that the people in charge back then never admitted publicly that they failed the investors and apologised. TE-11 future would be a question to ask Graham in a Q&A.
Yes PNE79, fully agree that the ongoing business (farm out and FID) and the tax issues need to be ironed out before the run up to the 3 wells campaign.
Speaking of a 3 wells campaign, it reminds me of something. TE-9, TE-10 and TE-11 anyone? Not so happy memory given the first two were failures and the third never happened. High risk high reward Parson said. These offer better chance of success though. TE-4 has reasonable COS, if not, surely SBK -1 will be a hit? how many times can you be unlucky. As for M-5 with a 21% COS, I am not banking on it, Funnily, it might the one that comes with the goods.
Anyway, I am tired of being in the one's, the two's. I am hoping for a two digits IN 2023. Wishful thinking?
Holder for he long term with 450 average, I would love to reach that level as soon as possible. I hope the results are good enough for the share price not to retrace below whatever level it will be comes February. I am modestly expecting the share price to be 350 POST results which will give a good platform for a rise throughout the year. End of year 400 and 450 to 500 at the same date next year.
How long will it take to resolve it? Who knows, The Moroccan administration has been built on the French model, which means it is slow with countless ways of appeal and a multilayers of services. It has dragged for long enough, I would guess it will result on a compromise for both parties. How the market will react and how much it will cost remains to be seen.
Fingers crossed and thank you Parsons.
Based on that article, you would think the court will somehow drop the case and allow SOU amongst others to deliver local gas to the country as soon as possible. However, I fear another delay on the decision, not least because the tax organism will want to keep a straight face. Regardless of SOU, the gas in on their soil, the future of the company is not to preoccupy them. Lets hop that Graham has been able to negotiate behind the scene in order for everyone to come out of this unscarred. We lost 1p on the share price the days after the tax issue was raised and halted the SP recovery back then. Once and if it is resolved (as I hope relatively positively), I expect the SP to instantly go into the 2's and test the 3's.
Future looks promising again, alas my average of 30p seems a long way off, I did not have the funds or did not want to risk anymore of them to average down, so, hopefully we will see a steady rise over the coming couple of years. My target was/is 50p.