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Chess, An RNS this morning telling us of a duster and the share price would fall. We get a great RNS with more oil than we hoped for and still the share price falls. You can't win. Tough game this AIM. For our first well the news could not have been better, ultimately, wether it be weeks or months the value of this asset, (which is considerable) will be reflected in the share price.
GL, We,re at last heading in the right direction. Patience and before too long you will be well rewarded. Chris
873k guys. Only 140 sells. Patience
We have oil, more than expected. Boom
An update telling us we have commercial oil and im expecting 5p
Yrab, agree. If it's just to 700m we both could dig it quicker ourselves with an old shovel. But what if they,ve found oil indications much deeper or perhaps they,ve drilled more than one well and even done horizontal. We just don't know. What we do know is there were millions of barrels of oil there 25/30 years ago when it was producing previously. I doubt the millions of barrels remaining have vanished. Sonangol will be doing everything they can to ensure they can recover as much as possible. Nothing there and we,d have had an update within a fortnight. The longer they take the greater the chance of good results. Very much a positive in my view If I was as sceptical as yourself and wasn't expecting decent results I'd have packed in and moved on to a different share. Simple
Sonangol, the state owned oil company are doing the drilling., not Corcel. Corcel can do nothing regarding how long the work will take. Sonangol are a first rate,top drawer professional company with many years experience and will be doing a thorough job. It takes as long as it takes.
Jimmy,Bobbson thanks for the replies. I,ll pop in again in maybe 3 months. Good luck with your investment. Cheers, appreciated
This company has cost me a fortune. Bailed out with big losses a couple of years ago. Hold free Accustem shares. Any sign of the going on the main market ? My broker won't deal with them while on the," over the counter*
Looks like it Edge. Waiting game now. Surprised how long it is taking for an update re Mt Weld wether good or bad.
Pedro, not if anything we owe is merely paid back in cash. Profits from oil. Warrants are only a guarantee to the lender so they can get their money back if we,re broke. Pay them back in cash and the warrants are null and void and will not come into play to cause dilution
Profits from our oil will repay any borrowing. May well be no need to dilute in 3yrs time.
Very interesting jump in price near to close. mmmmm
Can someone provide step by step instructions for those not tech savy. Don't know where to start.
Not long to wait. Touch down news will land soon. It won't be a duster. They,ve produced from it before. We have oil, it's just a case of exactly how much. A little patience and I think we,ll be well rewarded. Gla
Smkr, interesting document. Corcel is referenced a lot. Seems we,ve potentially got a very sizeable amount of oil coming our way.Seems more than I originally thought but may well be me just interpreting it wrongly.
Luke, the 7p to 10p suck in my head. Nice to have a bit of positivity on the board. People very upbeat, long time since I've seen as many posts, if ever. Looking forward to tomorrow and the weeks,months ahead. Exciting stuff, good luck.
Price tomorrow? Who knows and I don't want to tempt fate by guessing but the well currently being drilled, if positive,should equate to an SP in the 7p to 10p range ( if I remember correctly what was posted the other day ). Very high likelihood of being successful in my view, and this may be just the first in a number of wells we get involved with. On that basis our SP is a steal and anything under 7p a bargain.
Mike, you and me have been here a long time now. It hasn't been a nice ride at times, sometimes painful, but we,ve somehow stuck with it. The company now has a new man at the helm, and has changed direction/focus. I think we,re about to have some very nice days now Mike. Our prospects seem transformed . Hopefully some long awaited reward for our patience. Some exciting weeks,months ahead . Good luck Mike, and good luck to all long term holders who have hung it there.
Smkr, The risks with the drill here have to be extremely minimal in comparison to most others, many of which are hopeful/speculative. We know the oil is there, as they were pumping it out in the 90,s. They are merely drilling it again, now advances in modern mining techniques will enable them to recover the remainder. Doesn't seem much of a risk to me. The oil has been there for millions of years, it won't have vanished. Another bonus is the fact the Angolan state owned oil company is the operator doing the drill. People who are very experienced and know what they are doing. They also have a financial stake in this as well and will do the job properly. All looks very good to me and the potential for other wells to be announced in both Angola and Brazil. Sky's the limit. GLA