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Hope Garry comes along to comment on the RNS. Today this board will be full of idiots who have suddenly become oil experts so take what they spout with a pinch of salt, The announcement overnight is a step in the right direction but it’s by no means a certainty. Let the shenanigans begin. Good Luck.
11-32, The gamble as you put it is not if there is oil there, it’s can they get it flowing. Just because there has been massive hype over the last 2 weeks doesn’t change the fact that the chance of success still stood at 37% at spud. The massive buying, the share price dropping from 1.8p to under a penny then rebounding again is extremely positive but this could still fail. Hopefully it doesn’t.
Hardly panic dazzle, I’ve just sold some shares for 1.7p that I bought at 0.46. I still have a large chunk of that buy left, yes if it’s a gusher my profit will be less, but I have banked significant profit so if it’s a duster then I live to fight another day. Each to their own strategy.