Member Info for Dibs61

Most of my P/F was red apart from this! Going to be interesting to see how this performs after the consolidation.

Come off it, hardly a big sell off. A handful of trades all day! Yes it was a bad day in the market - there was a lot of red around across the board but like bonum points out this can move quite sharply on relatively small volume - up or down.

This was announced on the 10th April so worth posting up again as progress is clearly being made.

Many Thanks for the link Fidel. Yes, the feelings of the small bunch of posters (at the moment) on ADVFN reflect my own. This has a tiny MC considering it's huge potential, a very small open float of shares - just over 1m! Directors buying shares. It's integrating it's software platform with some mega players such as Microsoft. Just wait until they announce an integration with SAP. I have worked with SAP before and they have some massive customers all over the world. Anyone who gets in now is still pretty much getting in at the beginning of what I believe is going to be an exciting journey. I will be adding more where and when I can. ATB

Sorry that wasn't very brief was it?!

Hi Poacher - If I was to summarise it very briefly its largely because of :- Unfulfilled management promises regarding forecast production levels - consistently fallen short of predictions. Operational difficulties - they work in a very harsh terrain with difficult (but I must emphasise not impossible) conditions) and there have been various technical issues with wells . In addition debt has grown rapidly in the past two years, I'm not exactly sure why but I would guess it's due to all the capex of developing their Arbuzovskoye field. Result = market has lost faith in the company. HOWEVER - the company still has a number of II's with a substantial interest. The chief creditor Macquarie Bank Ltd has a substantial holding. I have invested here because I like trying to uncover recovery prospects and I think we may have hit the bottom here. IF they can boost production successfully and start to bring down debt we are onto a winner. There is also the possibility of a takeover at some point. ATB

What a good day here. Following up from yesterdays excellent RNS with a strong performance and strong finish today. To recap: Production has restarted at GHF with flow rates to follow CPR 'best case' prospective resources of 51.02 mmbo at St. George's Bay prospect Not to mention the shale gas prospects in Clare Basin Ireland or the tie up in Jordan or the Phoenix block in North Sea etc etc all for £13MC.

Pretty much all this week. How much longer I wonder will I be on my own on here? :-)

Yep there's not always a lot of logic in the market reggie. BPC potentially have a huge asset but, as you say, too much politics and incompetent politics at that! I like this share though and happy to see how it all unfolds. :-)

St George’s Bay prospect - the CPR comes up with best case’ prospective resources of 51.02mbo which is a VERY sizeable prospect for a company with a current MC £12m! Production has restarted at GHF without artificial lift and oil sales made - flow test results to follow and installation of pump should increase production further.

Compared to recent times. Interesting combined with a rise.

This is up 2.5p or 2.05% on zero volume! Reminds me of the bull markets of old where shares were marked up on b*gger all!! Maybe MM's want shares.... badly..

Be good if we could hold this level to close.

Exactly, thats the key point well is producing without the artificial lift so all those who were scoffing about this can now eat their words.

Market may now wait to see the flow rates achieved to quantify but no doubt this is excellent news. I think we can look forward to an elevating SP in the coming weeks. :-)

Positive production news from GHF. Now, onwards and upwards. ;-0

With the positive sentiment this morning. Maybe the tide is at last turning. I have followed this for quite a time now and the big change is that the bigger trades are now buys rather than sells. I can't be bothered to clarify the figure but I know this is way under book value at this price and although, yes, there is substantial debt I think most of the bad news is out the way now.

I agree. These things don't happen overnight and the sale will happen. If you're not careful this'll be one where you get impatient, sell out, and next day the little red dot flashes and the cat gets kicked.

Is it: P&D Brigade arriving? Just reflecting strong market today? Good news coming? I hope it's the last one I really do.

Mr Market is in a fine mood.