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7:21
I believe 2p is not far fetched. It equals to £500m Mcap and this company already went once to £700m Mcap. Also many in the US think this will fetch between $0.05 and $0.10
Two or 3 years ago (can’t recall it precisely) I made more than 700% but yes I sold before the news.
This time, we just don’t know the flow rates, if any, but oil is present.
I think many may want to sell before the new tax year to maximise their tax benefit but some may want to sell in the new tax year to delay tax by a full year.
I think 2p is achievable, possibly 3 or 4p on very good first result.
The very first trade signals that someone need shares … according to the myth of MM codes.
Either a RNS this afternoon or next Tuesday but it seems positive from the first trade indication. They will take the opportunity to buy cheap shares this morning with stop loses to load up.
The myth legend
List Of Market Maker
Signals
1. 100 - I need Shares.
2. 200 - I need Shares badly but do not take the stock down.
3. 300 - Take (or I am taking) the stock down at least
30% so I can load shares.
4. 400 - Keep trading it sideways.
5. 500 - Gap the stock. Gap can be up or down, depending on direction of 500 signal.
6. 505 - 1 am short on shares
7. 600 - Apply resistance at the ASK to keep the price from increasing.
8. 700 - Move the price up.
9. 777 - Also recognized as a signal to move the price up.
10. 800 - Prepare for an increase in trading volume.
11. 900 - Allow the stock to float and trade freely.
12. 911 - Pending News/Press Release On The Way
13. 1000 - Don't let it run
14. 2100 - Let it Run
Even without consolidation the Mcap will be between £300m and £600m after first/second results if the flow is commercial above 100 bopd.
2p will be £500m Mcap which has been reached already in the past with less assets.
Panr went over £1b last year.
They are not going to announce both results at the same time. They repeated several times that each test result will be given when they have it. And there is a good reason for this. It is because they won’t be able to prevent a leak of the result until the second test result.
Of course, we want good results to make profits and if we go to 3p in March, I will for sure sell before April. But if by next Thursday at closing, the SP is below £0.015 then I will hold until the new tax year hoping to sell before the second test result.