Member Info for ID78

STAS - don’t want to get into a bun fight but what were the chances of success on those drills?

Wildcat drills I’ve often seen as quoted as havin a 12-15% chance of commercial success. So 7 dusters is about right and just the odds of the game.

I think there needs to be recognition it’s not the easiest thing finding oil.

Advance energy went to re-enter an old oil field with a 90% chance of success. No oil.

Now renamed BCE just drilled a sidetrack and another known oil field and saying it’s a duster is harsh. There’s oil but it’s not flowing.

So a wildcat explorer in a country the size of Mongolia, unless very, very lucky is going to have its failures.

Good to know, research and hold.

So workover of Heron 1 (1 week) and set up the tanks and tanks and connect it all together. Perhaps needs paid for.

No worries, legal.

Thanks for alerting me (by my skulking about this board) to

OMI, KAT, KAV.

Good luck with HEX - I messed up there, sold to buy BCE with a view to buying back. Turned out to be the wrong move.

Well … almost everything on my watchlist is red today.

MATD is an exception and that shows the strength of the SP just now. 5p will be tested this week, will we move past or fall back?…

Not saying they are the best….

But QBT and GST can go on runs. GST I can’t really remember l, I think it is something to do with (trying to attain) approval in the uk to be one of the few approved companies to process payments using crypto. If they were the first or one of the first they could make a fortune. IF.

QBT - have developed tech that allows miners to mine bitcoin at a quicker rate (just over twice as much bitcoin mined by existing methods). In theory. There was a spike in the SP when they announced they were good to sell to the market. But this was some time ago and the SP is low so I guess no real sales? There was an issue in that to protect the tech they could only sell by miners connecting to their servers and mining, meaning lag so maybe the lag killed the benefit in enhanced mining rate?... Next step- sell mining rigs with their tech inside. If theirs a sniff of this taking off then QBT will go on a run.

I managed to trade QBT from 1p to 3p last time.

So ultimately - I’m not convinced but maybe money to made on trading them based on news/rumours

Asher BP is one of maybe 2 people I blocked in all the years on a BB.

I’m more than happy with my decision, and would fully recommend you do the same :-)

To be fair 5p is resistance, knocked it last week but fell back and from todays action we will retest this week.

If it goes next resistance is 7p. Big bench isn’t wrong…. Just will 5p go this week or will we need a pullback and a 3rd attempt to break it?….

Uggggh I’m a dafty!!!

The speedboat comment did have me wondering. A bit too much going on this morning!!

Thanks for replying

Kevinround - do you still think the rig has fallen through?

Genuine question; I moved money from BCE to MATD last week (luckily) but HEX still catches my attention.

Give it a rest whitenight. Duno how you knew before the drill arrived it would be a poor result but I don’t think anyone holding here needs these comments.

Troajan (&Kevin),

Sorry to see that RNS today from BCE. Really feel for you both (and anyone else holding there).

I just sold out of BCE yesterday, purely in for the drill excitement. Point is, they HOPE to get 900bopd. MCAP £9mill. And many on the board suggest multiples on the SP IF they can 900bopd.

Star, a few mill more MCAP, actually producing oil and more than double what BCE hope for in their wildest dreams.

SP is nuts.

Thanks… last year I watched MATD go on a run and regretted not buying in sooner. Below 5p felt like a price where I couldn’t go wrong even with the large move yesterday.

BCE - This is the part that I just don’t have the nerve to wait and hold on the drill results. I got stung on HE1 first drill (totally different of course - a wildcat drill). Then BCE as ADV had a duster on a 90% cos drill.

The annoying thing is I sold HEX to buy BCE cos I really liked the chart, backed by the drill. BCE have had bad luck hope it’s 3rd time lucky this time and you swap Valium for champagne!

Actually could I ask a favour, Troajan.

If you notice MATD turning red on cnbc - could you post? I’d appreciate it. My biggest problem is holding on to a stock as it turns and pulls back.

Troajan

I was one of the BCE sellers… 2 reasons

1) I didn’t plan on holding till the flow rates came in as it’s beyond my risk appetite, however I was hoping to sell higher than where I did.

2) that MATD RNS meant that over the next few days I’d do better there

So - maybe - I wasn’t the only one. All the same all the best, hope the drill results are good.

Medjed… much quicker. It’s been less than 24hrs since the RNS.

I don’t think it moved to 8p in half a day before.

Thanks share investment - that makes sense. I had a bit of a mental block there, kept thinking short positions but it never made sense. Then couldn’t actually make my brain think the other way!!! Thanks again.

On flow rates - production expected to recommence next week. An update once stabilised and sustained flow rate has been achieved. So that may actually be June…

Flow test results next week sometime…

So can someone on here maybe explain… if spreadex are a spreadbetting platform then does them selling shares mean their clients are closing short positions? I’ve not fully got my head around this.

I do however note the comment from earlier in the week that spreadex may have multiple clients holding BCE and so saying there is a ‘seller’ is perhaps misleading, nevertheless the fact there was significant selling by spreadex does suggest one client had a large holding to discharge.

Either way hopefully the spreadex selling is now done after the big sells this week…

GLA

If the buys and sells can be believed

Then there have been more buys than sells when we combine yesterday and today - and the SP had dropped….