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Debug/Stefan, I agree that opening up the US market will have a significant impact on the SP. The potential demand from that massive market place can only push the price up quickly and strongly. However, we need two things for this to happen IMO. Firstly, we need an established and relatively easily accessable market in place for US investors ie. ADR's. Then we need strong positive news to create sustainable demand. I, along with many others, have always believed that it would be best to get the ADR's in place before creating the , hopefully, huge demand by releasing great news. For this reason i must confess that there is a very small part of me that wonders whether the RNS OF 3 weeks ago tomorrow was worded slightly less positively than it could have been and, dare I say it, the shallower sweet light crude potential zones, were not tested. Conspiratorial I know, but possible?? I would be very interested to hear what people think. "In order to win a war certain battles have to be fought in a certain way and in a particular order. He who rushes to win the first battle is in no way assured of ultimate victory." Anon. BM.....master tactician!
Ooops....imvho! Best of luck to all.
Getting the ADR facility in place will not require any demand / interest from the market as such. The good/fantastic news which we hope is to come will create the demand. Then we will have a situation with high demand (following CPR Update & flow testing results) and restricted supply (only 42m shares in issue). Basic laws of economics says this situation equals significant price rise, probably VERY significant!!!!! All the above imvo.
Sims, good post and I totally agree with all you say. Anyone invested who doesn't trust BM & the Board really needs to have a good long think and ask themselves why they would put their money into the care of people they don't trust. That would be non-sensicle to me! Also, when looking at and listening to what BM has said, on the record, it really is pretty powerful stuff imo, when you put it into the context of the fact that he is publicly accountable for these statements and they have to be made within the rules of the regulatory framework within which he/the Bod/the company are operating. They are not careless, throw away comments made up on the hoof! For those reasons and the fact that a new CPR is being prepared at this particular time (they wouldn't be doing it to give us bad news, would they?) I have a huge amount of confidence that this is going to be a very considerable success for the company and all investors. Difficult and frustrating though it is, patience is the key here. It takes time to do things right, in any aspect of life, and as maytheforcework states, the evaluation needs to be spot on and so the company must be careful. The next phase of testing could see all of us considerably better off than we are today. Best of luck to all.
Good Afternoon All. Haven't posted before but thought it worth repeating some of our CEO's words (verbatum) from his Q&A with II on 16 November whilst we wait for news, just to boost confidence and remind us all of what we hope EB1 will bring. "The fundamentals of this company are better than they have ever been" "we have proven productive zones, including a very large one" "We have every confidence that we will be able to flow this well" "We have a confirmed discovery, and it looks very large" "we have only begun to understand its potential" "We are confident about the estimated oil volume numbers" "We have big producing zones to work with" "The potential of the productive zones is very large" "Water is only a problem if there is no oil. We have lots of oil." "We have done remarkably well to confirm large oil-producing zones on our first drill" Sounds like a man who thinks the first drill isn't going to be anything short of an enormous success to me! Oh, and regarding that issue of the Kerogene & wax obstructing the flow, see above quote but also remember what BM said during his audio interview with II, also on 16 November ie. "it's an easy work around" and "there are six or seven (methodologies) which can be deployed in order to clear the route and allow the oil to flow". I am no oil industry / exploration expert but I do work in business and the above comments are not something the CEO of a listed company would say lightly or without the approval of his Corporate Advisor imo. Also, why order an updated CPR at this stage of the game, and at not insignificant cost???? Could it maybe, just possibly, be because, following all the work they have done so far, they now know they have significantly more oil than previously thought (and detailed in Forrest Garb's covering letter to the first CPR). Well, I know what I think but you draw your own conclusions. I am impatient for the news, like everyone, but confident in the outcome. Lets all hope it is the huge success we want!!