The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Depends on how you look at it Rocket it's either :
1. A large gas play with some oil and water thrown in
OR
2. An oil play with water and a lot of gas thrown in.
Either way once they can get it all out of the ground and monetise it - it's good news.
Hi Bobbbyrash - yes it would not be a good move (I think ) to sell up and move on before knowing whatever news is coming out and the effect that news will have. Having been invested here since late 2018 - I bought most of my shares sub 4p. However my ISA holding is severely in the red - I try not to look at the overall figure it's too painful. Almost as painful as the waiting.......
My guess is that everyone is "sitting on their hands" (me included) I have not sold any, not bought any extra top ups - just waiting and watching what unfolds. As AJW says on good news this will re-rate very quickly and 5p will look very much like the bargain it is/was. Beyond that - there were only 13 actual trades and less than 1 million shares traded not long ago we had a single day of over 700 trades and I think 30 million + shares traded. No news, low volume trading plus LTH's holding tight = static SP.
Hi Sea I could be wrong (it happens regularly) but I though the VCT (Venture Capital Trust?) was the umbrella name for a group of funds which they manage - the smaller companies fund being one of these. I used to invest with them myself but have not had any dealings with them for several years- so could have it wrong.
Samplemix62 - From what I have read a water cut up to 75-80% can still be commercially viable if there are certain criteria met:
1. The flow rate is stable
2. Cost of remedial work not viable (too costly - technically not possible)
3. Cost of handling/transport/storage separation of water and disposal of water to an injector well is within budget
There are methods for remedial work on water ingress but a great deal depends on where and how the water enters the well bore. Swellable packers could be used but placement is critical - hence lots of down hole flow testing and production testing which is time consuming................................As has been said before the gas could become the game changer here - it will take some time to get set up but BAGO have signed off the purchase contract and will be a ready buyer.
WR16aZ was being choked back to 3.0mm as the pressure was high and they were flaring the gas but I imagine they are keen to get the gas monetised and to increase choke size and associated oil flowing (minus water).
Hi V111JAS - Hopefully all will be revealed before the end of January - that's just about how long my fingernalis will last. I think most of the LTH's on here are smitten with the share - to different degrees.................from Hillybilly (weak) to BigBoffer (Strong).
Hi Gary,
You will find that nobody on here will say that the communication between the company and shareholders has been even "poor" it has essentially been non-existent. But I do not know what people expect given the "Broker Man Dan" episode and the debacle caused by initial flow rates reported at WR16aZ. You have taken a position here for a quick trade on any rise in the SP with results from WR38 and any turnaround on WR16aZ. Lots of people are probably up for doing the same thing. Whether or not this has legs to become attractive for a long term investment is not a done deal but some on here are smitten with the share - even those who have sold out and bought back in several times...........
Yes - I just like to see what other people's views are on the share at the minute - Doc has nearly 7,000 twitter followers so there are a good number of people reading what he tweets. He's not to everyone's taste and sometimes crude and insulting.
From Bloe - Looks like Mr Gary Newman (share Pundit - Share Prophets) has something to say :
Gary Newman
@GaryNTrader
Jan 10
38 only completed a couple of months ago? I know the company is being far more cautious these days as well - their new PR company actually contacted me some time back to say they took on board some of my past criticisms of the company! Change to WR51 also interesting
https://twitter.com/GaryNTrader/status/1215654490013159426
Elias Jones makes positive noises about Block energy and upcoming progress reporting.
"Well 38 #BLOE is flowing naturally, they are going about it in the right way this time and the result will be conveyed with confidence. This will contribute oil and gas income as will each well in the current work prog, which will see this in due course above the 11p placing imo"
https://twitter.com/EliasJones01/status/1217056432824242176
gets a mention on Doc Holiday's twitter feed:
https://twitter.com/DDS_DocHoliday/status/1217461269873201153
by walking the SP down below 4.4p seems to be going on regularly as the MM's free up some shares from PI's. I said about a month ago that the support level seems to be around the 4.5p level and until a definitive RNS drops we will be yo-yoing around that level - as far as I can see nothing has changed. We even have the "knocking crew" popping up from time to time to snipe at the SP and try and drive sentiment down. As usual DYOR - I am still here , still holding.