Member Info for eldorado1909

results should see this smash through 16p and onwards next week.

Why are you still invested here? Either take your loss like a man and move on, or stop deramping your own investment. So far this quarter the board have delivered great interim results and spudded an important albeit delayed well on platanillo. Whining on here like a guy that's been cheated on is not going to get you anywhere.

to be perplexed by this share. Dropped on positive results, when its already at all time lows.

Absolutely stonking interims, just like I said thry would. Wondering how the moaners on here are going to spin this negatively. These results deserve a 30p SP at thr bare minimum.

Really are pathetic. Sat here deramping your own investment, moaning when the BB is positive. Suggesting results are going to be poor when oil has been in the clouds. And then to top it off saying "thry will only show increased cash and profitability". You do realise what the point of a company is right? To make money! No wonder you're all underwater, you have absolutely no idea what you're doing.

I'm waiting to see if it forms a base here.

Jasehem, the last financial year AMER barely made a profit, and the year before posted a loss. Because of the price of oil the interims due later this month will show significant profits for the first time in years. The drill campaign will add p1 and p2 eventually but in the short term its the evidence of the company's profitability which will drive the SP upwards. The sector average p/e is 25. Forecasts suggest the profitability in the interims will be in the region of 8-9. If the SP went in line with a p/e of 25 on that basis it would see the SP at 41p. I am not suggesting the SP will hit that, but the idea that we will not see a short term lift on the back of this years interims seems ridiculous. The SP has always rallied after y/e results and interims. I am expecting a movement to around 20p on the back of them.

If this year has shown anything its that drills will always take longer to happen than you expect.

Sorry if it sounded harsh Choppy.

The reason that it is at the current price has nothing to do with what you're suggesting. The SP has been driven down by Rex selling down his 6% stake in AMER, as well as some quite blatant manipulation of opening and closing auctions. Production issues haven't helped but like you say just on the current production and revenues it should be 100% plus from where it currently trades.

If you look at todays trades you will see that its almost all buying since the bell. That means there is almost certainly one of Rex's big sells being worked through. The way that he times his sells seems to be vindictive since it always seems to be timed to have a maximun impact on stalling any rise.

However, historically the interims or y/e results have always had enough impact to shift the SP upwards significantly despite any selling.

There is most likely one of Rex's big sells in the background. Once it is worked through it will shoot up. Seen it happen before. Most recently when it went from around 13.5 to 15.5p in two days.

Choppy sorry but you're talking BS. To say this is primarily a drill play is so patently absurd. The 2p resources are c. 20m and are being expended at 2m annually. Unrisked reserves are 1.3b barrels. The idea that having c. 10 years of proven reserves and a likely p/e of 8-9 as opposed to 25 sector average is not in of itself justification for the current SP is a joke.

I agree that the delay in spudding has held it back in the 14-15.5p trading range, but the idea that this is an all or nothing gamble on N-Sands demonstrates your lack of comprehension of the situation. This isn't a drill play, its a recovery play, and the interims will show a sharp turnaround in finances. Drill successes are an additional catalyst which can drive the sp higher, but they are not the primary factor here.

You are right. The interims will provide a decent uplift in the price when they are released.

However, the same issues which have driven the price down to here will drive it back down in the last few months of 2018 if the wells to provide additional production capacity are not spud. Imo this is going to continue trading in this 14-15.5p range until a well is spud.

N-Sands should be spud anyday now, so let's hope we get an RNS tomorrow.

All they need to do is spud a well.

There isn't much point discussing anything until that happens. In the last RNS they worded it like N Sands would be spudded before results for August were released, since they inferred the spud RNS would be the next communication. The august results are due next week. The fact that they haven't updated the market on the N Sands spud is the reason the SP has fallen back.

You could have made incredible returns the last few months buying at in the low 4s and selling a penny higher. Regret not taking 4.3p on offer after the sell-off.

too much volatility at the moment to buy in here. needs to form a base

I only just started scaling in from 53p. It could go to 40p and it wouldn't hurt me that bad, could easily get my average down to the low 40s. I had been waiting for it to get to around 50p since it started dropping a few months back. But regardless, I don't see this going to 40p, I can't see it dropping much further than where it is currently.

On the flip side, if funding is secured for the $210m the SP will multibag... Don't really see much downside from here.

I started scaling in at 53p. From the perspective of an outsider who has never been invested in BCN, its becoming increasingly attractive at this price. Personally surprised its broken through 50p since that was the price of the proposed placing.

I will look to add more here at this level. It looked like it had found the bottom at just above 50p.

Remember. The sp is down in the last year despite oil going from $50 to $70 per barrel. We haven't even seen the existing oil price hike priced in yet.

My L2 has open price as 14.644. First trades we higher and it immediately hit 14.9 mid price before dropping to 14.85. The subsequent trades just illustrate how fake these opening and closing auctions are because the actual trades during the day are way off them. They still have affect though. Like I said. If this closed at mid price like any other share and opened where it closed we'd already be in the high teens since the trading almost im variably rises during the day.