Member Info for G_G_G

Perhaps you should learn to read Soley (haha)

Well there's another 500k for me. This has little to do with AE and given any legal proceedings will drag on for years it's not likely to have any impact on our deal (even if they are involved). It's been taken down to short term support. If it breaks here then we've got another 20% drop to ore solid support, but I don't think that will happen. Investors like myself are taking advantage of this and we'll be back to circa 3p in the coming days and no doubt climb higher as we approach the end of the month when people are expecting some form of update (and maybe THE update). These sorts of drops are always an opportunity for a quick 10%.

Given so very little volume is changing hands it doesn't take much for the SP to move one way or another. We've had drip selling all week without willing buyers so the recent 250k sell has dropped it fairly hard - We're now under 3.5p to buy. A few more sells and we'll be back to that 3.4p buy level that has held for some time. Great value if you have the cojones on this one. Once this week's circa 500k shares are mopped up it will bounce back to the same high 3 levels to buy with the usual 10% spread. It's quite telling the current investor behavior here i.e. no-one wants to pick up the drop. We were behaving quite normally in the run up to news at the end of June i.e. we went from low 3's to low 4's on the expectation that Hanno will finally start delivering more than dilution. But ground hog day delays has meant there's no run-up to news this time. Clearly investors have lost faith in Hanno and some are limiting risk as we await the next release. As I've said before if Hanno can deliver everything expected in H1 this year (including the tariff), then we're in for triple our current SP. But if the tariff gets moved to H1 next year and the other news is drip fed through H2 then we won't move much from current levels until the end of the year. Maybe mid 4's until the run-up to tariff news. Trust is key to AIM and Hanno has clearly used up all of his with too many broken timelines and of course investing our money into his brother's company - A classic AIM thing to do. As much as I'm back in here, and probably far too much, this stock is the one that I have the least amount of confidence in coming through. Hopefully my greed will be rewarded here again.

Bigeye you need to speak with your broker. I can get 250k @ 3.4798.

I second jdt's comments, pull your f'ing finger out Hanno and start delivering!

It will be 1 month since the last update where it was mentioned we could expect the shareholder term sheet in the coming weeks. Time for Hanno to step up and deliver what he has promised.

Well got my quick £500 earlier. I think the only way to play this stock at the moment is to hit the morning drop and then sell mid-afternoon when the US comes online (providing there was a reasonable drop in the morning). Price is definitely being managed downwards, to what end is the question. I've said before I believe a RI will be announced soon, and felt it would be at 40p. Now starting to think it will be lower than that... Keep in mind there's a pretty decent gap to be filled (39 to 31p) that will drop us quite quickly with a good enough reason.

Nope but there'll be a bounce this afternoon when the US comes on line. I'm expecting to be out by end of play for hopefully £500-£1k profit.

Back in for a quick trade of £20k at 39.99. It's good for a trade here. RI is going to come. Question is when.

Thanks happysparrow. Only questions remaining are when do we think the first important news will land, and what do we think it will be...? It would make sense to announce something just before the investor presentation on 22nd July, which is less than 2 weeks from now. Interesting times, especially we now have a little more interest being generated. I'm going with 2p SP at the end of next week.

You know this how AlexE?

Sadly you're correct jdt. Let's not forget we've been in this position before with Chinese partners. Timetables have never been met. And Hanno has donated a large amount of our money to his brother's company. These are things we do know. Having said that if he can start placing the remaining pieces of the jigsaw we will be well rewarded. The next pieces as CF has rightly pointed out are the Shareholder Terms Sheet (good news) and a revised timetable agreed by EDM (potentially bad news). Both were scheduled for release 'in the coming weeks', which by my count was 3 weeks ago tomorrow. We also have the EPC and historical cost audit to be completed in Q3, however in his interview he said these timings were generous so we should be expecting these pieces of news soon as well (given they were originally due end of June). The all important tariff agreement date hasn't been re-set but if it's pushed to H1 next year the SP will most likely stay under 6p, even with the other +ve newsflow. If they commit to Q4 and the rest of the news is delivered on time, then I'd expect 6-8p range with agreement of tariff taking us through 10p. Following tariff, each piece of news will push the SP to circa 20p on FC (my expectations). Reasoning for this is we can expect circa £40-50m in back costs + developer's fee on FC, which is 15p cash value. It makes no difference this will be re-invested into the project, as we'll have the rest of the finance sorted and in 4 years it will be throwing off v.large amounts of cash. Having said this I fully expect us to be bought out in part, or in full at FC, which would mean 20p+ depending on stake taken. A previosu report valued 10% of the project at $60m from memory (so 15p value per 10%).

All to play for, but we need the +ve news flow to start in the next week or so. Time for Hanno to start delivering more than just delays.

For a little run by the looks of things... Nice to see an investor presentation in the near future as well. It should maintain interest while we await news. Can't believe we're still below placing price given we have little debt, low cost production, oil price hedged at $45 barrel (at which we're quite profitable), soon to be announced production increase, imminent spudding of exploration well opening a new play, Trafigura as off-take partner plus now a major shareholder, CEO with all his skin in the game....And we're below the placing price! Have I missed anything...?

Correct. It's why the SP is being walked down. I've said circa 40p is where they'll conduct the raise. Watch it get held here for a little while then see the announcement.

Exercise price is always material, especially to our meagre bank balance. I'm guessing they were nil value options given the 10p options were rns'd previously. News is due Hanno!

Hate to say it fellas but if I were a betting man I'd say it looks more like a RI is on its way. Reckon circa 40p is the figure that's probably floating around the city given the way the SP has been retreating as oil has been advancing over the past week. I traded this last week on a couple of dips. Made £1k, then lost £500 when I decided a RI may be floating about. Glad I did sell as well - I was in for 48p and looking for a bump to 50p when I bailed. I'd be down a few thousand if I'd stayed. The company clearly needs to raise cash at some point in the very near future and I'm pretty sure their creditors are asking for some headroom (and to participate). Trust your gut on this one I'd say. Mine says 40p RI on the way.

Well one of those 1m trades yesterday was mine for 1.47p :) I'm guessing Doc and Malcy have driven a lot of the interest combined with a lot of PIs who have extra cash after selling our of RRE and looking for a good home. This company is easily one of the best / remaining O&G prospects for a 100% rise in the next 1-2 months. Little debt. Low cost. Profitable. Near term production increase. Great share register. CEO with pretty much all his skin in the game. The list goes on. Crazy to think think it's still below the recent placing and loan conversion at 1.85p, which went primarily to Trafigura and CEO.

I bought 1.575m shares in 3 tranches at 1.47p this morning. Interestingly all were registered as sells. Was trying to get to my target of 2m just before this jumped by +10%. Great to see an immediate jump and be in profit. Bit frustrated I missed out on the last 400k of cheap shares. I can see this moving to 2p very quickly given near term prospects. It didn't take much buying for it to move and most are well underwater here so always bodes well for a quick re-rate. I sold 2500 RRE shares last Thursday for a 5% trade :( I'm really hoping ppc is going to make up for that short sighted (and short-term) blunder. Great prospects, great share register, and great to see the boss has so much skin in the game here. GLA

Ha ha. I can imagine there's been quite a few shots on goal recently. I might give him a rest before I test him.

Hi guys, just wondering whether Andrew Trahar normally picks up the phone?

Thanks for following up extrader. As per CFs note, it would be appreciated if you could share whatever you learn from mgt.