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Hi Theyknowitall
And it seems that they do know it all. One question for you. If Turner Pope were still holding 62m shares which is 5% of the equity would there not be an RNS to that effect?
In the end, the proof is in the pudding. there is massive selling taking place this cannot all be profit takers. We need some heavy digestion to absorb all of this
The subscriber to the 62m shares from warrants has probably been offloading today. I was hoping to see some late large trades but there does not appear to be any. I expect they are about a third of the way through so there could still be a couple more days of punishment
Hi All,
I have only been an investor in this for the past 3 months. Some things to bear in mind Billy boy is that this is not the same company as before. You are buying into a new team led by Colin Harrington. The last deal announced came out of the blue. It is being financed from current income and therefore there is no financing needed. If CH continues to perform these kind of deals I intend being a LTH. At this rate there are likely to be a lot more projects within the next 12 months. Another thing to bear in mind is that these deals have been worked on at an oil price of $50-$55 and we are now approaching $65.
A lot of investors have bailed out. I imagine that many have come in at 0.5p to 1p and have seen a good return. For the rest of us in for the long haul we can look forward to the start of the upcoming drilling in the next couple of weeks. This should take no more than a couple of weeks to complete as they have already drilled the vertical and only need to do the lateral. We will then know what we have and more importantly we will also know the revenue stream and can calculate how the field is going to be fully developed. I don’t believe in the rumours of a JV. Why would you give your cake to someone else. And besides CH has already stated that as a 20% shareholder that he does not wish to be diluted
The short answer is the more times you ask this question the more likely you are going to be right one day.
CH did say in his last presentation that he expected the news regarding the geology and determining the extra targets would be 6-8 weeks from the middle of January, so that would make it about now. However this is totally out of his control and due to the lockdown measures it is quite likely that is going to delayed. The important news will be the start of drilling and CH said this would happen after the geology results and probably the end of March. This is when I would expect the SP price to fly. Patience is needed.
Today was a bad day. Absolutely no disguising that. However I want to make some points. Firstly, the move today was a Fibonacci retracement to the penny. Secondly there was nothing extreme regarding the volumes so no one of any significance has sold out. Third I am encouraged with the comments of our communications officer. Fourth, this move was a result of a lack of expected news and negative comments on the Motley site
I topped up at £2.05 in the last half hour so I cannot understand why others have said they were unable to get filled.
I do not expect any more moves south