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Already have a hole where tests show excellent quality and natural pressure from a basin that Petro China are already extracting from.
Impending contractual rights to extract oil from the area.
As opposed to just a discovery licence.
Its been dragging on for a long time since the tests were completed, but getting movement from the gov to sign away.
Yep, we need to be careful as retailers dominate this share and the big guns ( and MMs ) can trade in the gaps without triggering any requirements to notify.
In 2017 the price went from
6 to 5
8.7 to 7 - It then dragged its heels for a month until lift off.
29 to 18
25 to 16
then finally went up to 37
That doesn't really stop 10 people running a rig does it.
And it certainly doesn't stop fuel getting to depots ( or Amazon home deliveries for that matter )
Topping up in the dips
But looks like we have run out of the big buyers for now and need another trigger.
Hmm...
555 ~10M annual revenue - not including work over ( but had slow start to year )
6M+ in the bank
120 employees
additional 1200 boepd (22M) in progress ( success yet to be determined )
mcap 15m
Personally, I think it's currently worth more than that.
But the market says otherwise, so cannot argue with that either.
The price has stalled ( actually fallen ~50% ) over the past few months
I was under the impression that with the production this should be riding 14-19p based on history, if not more with the investments.
Any fundamentals we are missing?
Are we simply generating revenue but no foreseeable path to profit?
Why is this dragging!
What an awful day seeing such a paltry blue figure ;-)
Count the shares
We are already near equivalent to 20 based on 2017
Shorters almost gone, if not all.
Spot on. I went up to £60k in that ~ 2018 pump & dump to mid 30s, with not much invested.
If I had top sliced and placed into stable stocks - and diversified into various risky shares at bottoms jeez, I wouldn't be working.
( I won't mention bitcoin resentment - forced to sell due to job requirements! ) Things like Standard Life and that smokers company have hit 10% plus with ease year on year.
I think so. But happy to take a punt on there being no issues.
There have been a number of holes reopened that either lost pressure or had high water quantities leaking in.
Safe investors probably want to see everything taken into account - earnings after costs.
So too for any JV with a major, they seem to want things completely de-risked, which means probably hitting another without issue to prove a programme can be expanded.
I wonder when the shorters will start to exit.
It would take them a while to get out at current volumes
New world...there will be far too much dilution for a long long time to get to that price.
Maybe you'll get there, unlikely without jumping early at some point.
The reality is that you ride the ups and downs either patiently here or moving in and out of other shares.
No rush, but ultimately you want to trade a little to increase the number of shares you have for 'free'.
Then your x shares @1.20 may in future be equivalent to x*5 @0.24
The only question is...are we still in a dip or rising. And how much you are willing or able to cut that average on each dip.
I should come back to the board more - such a balanced approach :-)
We could all be smashed - don't shoot for the stars - but no reason to put a reasonable reason to stick around.
Yep - surprises would be...
7p in 14 days
12p in 30 days - I'm expecting the next stage of contracts between these, then the final agreement in 45 days.
Once that happens - there will be no news for some time, so everybody will duck.
Ah yes true, hadn't thought of that part. ( although these companies seem to be designed to be debt monsters and just serve the debt - we don't have enough debt for banks to worry about losing anything and not enough revenue to get the debt )
Easy come, easy go so far. Should have traded, but generally burnt when I do this, so stick to the long game.
Hopefully just a lot of profit taking will run out and we have a new base.
Going to stick around for a few years yet (or forever), so just amusing to see the ups and downs.
- counting this as a disposable punt investment - unless something obscene happens that I can't ignore.
Tullow is $600m mcap with 60,000 barrels per day over bad periods. Although its price is 5x less than what it was, after taking a hammering.
What is the expectation per day of these drills, based on the last drill tests as an indicator?
So true. Will just sit and watch as long way to go.
Hope it’s not some inflation prior to a small placing.
Suez blocked
Money to make elsewhere
Absolutely great to know. I was head in hands earlier!
Hopefully more solid news, signalling away from potential dilution for growth and get them moving in one direction.
I wonder at times that things look good, so everybody just sits tight and only minor swapping goes about.
Not a great sign that Blocks own Employee Trust is one of the sellers!!! Why on earth, what do they know that would mean disposing shares at this juncture?
previous notification 6.18%
resulting notification 5.91%
reason - "acquisition or disposal of voting rights" - not "An event changing the breakdown of voting rights"