Member Info for Ginksy

I don't think SMP are delaying the drill more likely aaog on the insistence of the new placee. Any placee handing over 5 million will insist on doing so before any good news not after but will probably pay a premium in the placing to do so.

Wouldn't surprise me if there holding off on good news until they place the shares.

Probably have a placing lined up with some institution say tuesday but holding back on news of an oil strike as part of the placing deal . Its no coincidence that they are meeting the congolise govenment today just before the egm . A 20 year license extention would be a nice bit of good news combined with an oil strike would be a bonanza for the share price and also get a good price for the placing.

Some may moan about the company cant sit on good news of an oil strike thats true but they can slow the drilling right down and tinker around with mud tanks ect to delay the drill results until next week.

Another day or two before news should be a good thing as it clears out all the weak and nervous and day traders so when news does land most of the sellers would be gone so the share goes to higher highs .

No clarification needed anybody with a half functioning brain can clearly read what it means.

The company want the option to raise a few million for a second well on the up and coming bonanza from multiply oil strikes

.They probably got of few offers already from investment funds along the lines of should they hit oil in first zone we are willing to buy say 50m shares at 10p per share.

I wouldn't say its a good strategy as most times when a company gets an oil strike most sell on news bag their 100% but over the course of the following few months the share price could go up another 500%. At best a risky strategy as you could lose a lot of potential gains on selling too early.

Its a wide margin of error if the salts is 500m thick they are well beyond the salts if the salts are 800m thick they are probably still in the salts the key thing is can shorters still take the risk to keep their shorts open over the weekend when news of an oil strike early as monday or at any time next week.

The salts go down to 800m They recommenced drilling at 660m last weekend so at say 40m per day by 5 days should be beyond that stage by now.

Going by Bells charts it could be over the weekend or it could be a few days longer all depends on drill speed. They should be well out of the salt layer by now which should speed up drill rates.

there could be a massive short squeeze tomorrow as they try and bail out before the weekend. Going by Bells chart they should be hitting the oil zones over the weekend and could have an RNS as early as monday.

that should be the last 250,000 raised and Sandabel now out the gap and the company has another 2m in the bank.

The one advantage of shorting in advance to raise funds is the selling stops once shares are issued as the selling is done in advance so there should be no share overhang compared to a placing and the share price should quickly rebound on any sustained buying.

last placing was 8p at a deep discount to previous price in the late teens . Wouldn't be surprised to see the teens again late next week as the company starts striking oil in multiple targets.

Nice chart by Bell . So we could hit oil over the weekend . next week should be interesting .

Its a disgrace Sandabel are shorting aaog its damaging the company and undermining its support base . Sefton will have to sort this promptly . The share price should be trading over 10p atm if Sandabel weren't shorting it.

I expect drilling to recommence today.

The part came Thursday evening passed customs Friday morning should have been delivered to site by lunch time Friday. Reassembled the part Friday afternoon ready for saturday morning recommencement of drilling.

Its a good deal by management to raise 1m above the last placing price despite the various problems that have arisen since the last placing especially the botched firstly drill.

The email might be dated to day but the question is when did snp advise him that the delay will be 1 week to 10 days. I'd imagine that would have being when they decided to replace the part which could be as far back as last weekend when the rumours began. Also ties in with rumours that the parts might be delivered over the weekend a few days to fix up the rig and drill recommence early next week just in time for the agm. All within the ten day window

Standard practise to change the seals and prep the rig while their waiting on the casing cement to dry.

Its good to have the rig in top shape before they enter the target zones in case there's gas kicks or oil gushers.

It also the time to add on other equipment to the rig that can handle and measure oil and rock samples and equipment for gas flaring.

Yes

A longer delay could be a good thing . more assets involved.

The company was supposed to relist in september so something went wrong in the relisting process.

Either the paper work failed by the lse and to correct and reapply or probably the more likely

the prospectus failed to attract new investors in the relisting and the company must redo the prospectus by either lowering the offer price or introduce more assets into the deal such as a portion of the welsh assets. This may explain why the website in not back yet as the range of assets hasn't being agreed yet with the potential new investors.Also if they are introducing new assets into the deal it would take more legal transactions and other reports.

The problem here is the ramping crew over on twitter promised interviews and contracts this week .

They have lost their credibility by the fact that they never materialised. Any thing they say now is assigned to the garbage category .