The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
Nope Jolly Roger, not on the dark side. Was hoping for 500-600 by christmas (personal hope) on the basis that they would likely increase the flow rate and production incrementally after the esp install. rod pump would have been in mid Oct as they said it would and hoped that around end of Nov the well would have cleaned up enough to install the ESP. The addition of the ESP would not automatically equate to 900bbls or more per day as mentioned by some posters, thought that 5-600might be possible. I also posted realistically a few weeks ago saying that the rod pump--due in Mid Oct would not automatically produce 250bbls a day and therefore folk should not have a melt down if it didnt reach its max flow straight away. Others on here were talking about full production by the end of November and some were saying it would be more then 900bbls a day--i'm not even sure where they got that from but it wasnt reasonable to expect it. My post that folk don't seem to like which is essentially their problem, was in reply to Paulio who is clearly hoping that his investment is going to increase more quickly than it will in reality. I am saying 6 months on the basis that we have now been told approx mid Q1 for the esp--that is dependant on how the well has cleaned up and whether the company believe it to be the right time. Then once they get it in an operational they will have to gradually increase the flow and will probably be doing more downhole anaylsis whilst this is going on, so if they stretch to beginning of March for installation and then gradually increase flow over a further 6 weeks or so and if they dont encounter any problems you are looking at Mid April to get to a full production figure. In other words for mr paulio, he's going to have to wait till easter for his christmas turkey. there is plenty of time between now and then for events to affect the SP, hence the comment about trading it if the opportunity arises is more likely to keep his money in the black--which at the moment is obviously in the red.
P11. TBH, not much excitement with the SP now until March/April. Expected production from the rod pump is already in the price, look at the Mcap. Its all OK if you want to sit and wait and if you can actually trade the ups and downs in between then its prob the best way to stay in the black. RNS today was disappointing, basically says they have been on holiday for 6-8 weeks. The increased reserves is good, but was also expected as per the rns in Sept so its not going to set the world on fire. Production from the rod pump was expected 4 weeks ago and most on here were expecting the ESP pump to be in by end of Nov with the well on full production. I was hoping for 5-600bbls by christmas but that won't be happening now. The black cloud of $$$ in the bank still remains until they get the income from production. So there's a few months of revenue to accumulate some cash in the bank, batten the hatches to conserve $$ unless they tap into UJO for some more investment money and then think about next developments. If you are thinking about doubling your investment in the near term then I would be extending the timescale another 6 months and hope they don't raise cash. Will be keeping an eye on the price as will most and if it goes below .14, I might add some more but might not. If I could have got a price to sell at .165 or more today, I would have sold half and waited. Don't get me wrong, I have plenty of cash in here as I believe they are onto something that will in time make money, the potential for the reservoirs to be connected is good news, the increased reserves is good news and the fact they haven't busted the well over the last 6 weeks is also good. There is no income which unfortunately is the main thing that this so called market is interested in--.
Here we go again, wtf is a 'genuine investor?' I just want to know so that we can get it out there and have it published in the traders glossary of terms alongside weak sellers, strong holders, strong buyers, strong sellers, imitation investors, weal investors, strong investors, et al. I had a recalculate by the way having bought at different times and prices, 35m was a bit of a guess, 15m in my wife's ISA @16p average and 17m in mine at 17.3p, therefore not 35m after all, my apologies for the generalisation and inaccuracy. I'll let you know just before I dump the 15m from my wifes acct, hopefully above 0.2 in the next couple of weeks. Vixen, your attempt at point scoring for your own moment of self satisfaction was a pity and I hope that that floor that you seem like rolling on is quite clean, you might pick up some nasties on there--actually thought you were better then that tbh.
Not de-ramping but no need for the word week. Just say thanks to those that sold I've picked up some more at a price I'm happy with.. I have about 35 million of these myself with the last ones bought at .143 and some at a higher price. I am very disgruntled about the radio silence from the board and more annoyed that they are too arrogant to reply to enquiries which doesn't sit well, same as most pi's with money invested, but trying to be a billy big balls by belittling those are are selling is just an indication of the scarily low intellect of some of the wannabe traders on here. Pathetic.
Stop talking about 'weak sellers' it's a pathetic expression. People buy , sell, hold, abstain to suit their own needs. I bought at 0.9 and sold at .26, made almost 200% in a few days, does that make me a weak seller, or is a weak seller, someone that has seen an opportunity elsewhere and wants to release funds or is it someone that has lost faith or no longer believes in the ramping bs? and is actually brave enough to sell up at small loss? What about the weak holders that cling on to something because they are too swollen headed to admit to making a mistake and then keep the things until they become worthless and then console their egos by saying they are long term 'real' investors and its a long term hold. When you sell yours, what will you be? A weak seller or a weak holder?
They haven't actually been specific about what the problem is. We could speculate all day as to what may have gone wrong with the hydraulic system. Pump--if it is a separate pump to that driving the rotary. Directional valve--wont send the hyd oil to the roughneck. Control valves passing oil and not sending signal to the directional valve. Somebody forgot to top up the oil, Whatever it is, is is just a mechanical 'thing' that is repairable. Mud circulating will possibly cake up the well bore and once they get the rig fixed, they may have to run a scraper--maybe not, just musing and saying it so that folk dont go into meltdown if it becomes necessary. There could be a short term trade if the SP tanks--pity I have no spare $$.
Mls. on a positive, the news will answer any questions of doubt about the ability to pay. This payment will be up there on top of the priority list as non payment would be suicidal for the golden goose. Good they've paid tho matey.
Included in the new directors is Andrea Cattaneo from Zenith Energy. Zenith have some Italian Gas Assets, maybe the idea is for Cattaneo to assist with licences from the govt or for Zenith to buy them. Whatever it is, it will be for his benefit and not shareholders.
There is always production during commissioning--unless its a 'pre-commissioning' activity without any product being run so it is likely that Prem are accumulating whatever it is they are producing.
Heid. They are indeed a beautiful thing--and nothing else sounds quite like them on full chat in a dive. They don't do that anymore because of the age of the components and huge cost to maintain and repair (unless the pilot misbehaves himself and ignores the rules) but even on half throttle they are poetry in motion. It'll be a talking point for you when you are out celebrating the success of BCE down at the RAC club!.