Member Info for itsgambling

Where have you been? What have you been up to? Are you currently long (or short) in Motif? IG

I'll take Wednesday :-) I'm very relaxed now that we can see BOA (SG) are happily (and knowingly) taking the shares from our seller. It's effectively a direct transfer but done on the open market IMO. I strongly suspect they haven't been given the nod that one of the exisitng holder is either a) moving a chunk of their holding to warrants or b) a distressed seller - and they are therefore able to build a decent holding without lifting the sp. �7 mill so far - they will have done some serious DD before building a holding like that. Exciting times. IG

Yes, I feel very positive about this :-) Especially as there is so little downside. BOA/ML are taking advantage of the situaiton and so am I. Exciting times. IG

Thanks Sheltie. Just got processed. That's me 100% in again. 324 thousand lovely shares. The visit to SRSP paid my credit card bill which is nice, although I was quite nervous as I still think this one will take many by surprise. And even better news - Catscan is back. Hopefully his crazy babble and negativity will spell news on the way. And will keep me amused in the meantime. IG PS: General progress update this week IMO - I expect tomorrow.

...for 24k at 38p. That would take me back to 100% (actually a little over - would be a new personal record at 324k) Be nice if I get it - but also nice not to. Best of luck IG PS: Still expecting a general update this week.

Took advantage of today's drop. Ditched srsp as I was nervous about increase in terrorist attacks and started rebuying here. I'm back to 300k and will take a final 25k next week on any weakness. Am expecting a positive update next week. Nothing dramatic just a nod to say ship is on course. Have a great weekend all IG

Fwiw I have sold out. The news of imminent terrorist attacks on oil rigs in the basin adds too much risk for me. IG

"If the Ororo-2 well confirms that the production rates of the hydrocarbon reservoirs are in line with those estimated in the CPR, it is the intention of the Board to raise further funds by way of a non-dilutive REYL facility to enable the Company to drill a multi well campaign on the Field, currently projected to involve the drilling and completion of a further four wells and the installation of permanent production, processing and pipeline facilities at the Field. The Company is in discussions with REYL regarding putting the proposed Liquid Facility in place to provide this further funding. "

The Swiss money is not needed to drill oro 2. The paragraph you refer to is saying that, after oro2 proves flow rates then they are planning a multi well campaign. And they are already in talks to fund that. IG

No offence to you boom. I'm just not going to trust someone on a forum, esp when I did not get a reply. Any your comment 'it all looks very promising ' certainly suggests information beyond the latest rns of 'licence before rig ... licence news by end of year' ie: didnt happen ... not promising ! IG

All this 'updates via personal emails' is seriously dodgy imo. I for one have sent one email to the company, asking if there would be any cost for extending the licence, and I did NOT receive a reply. IG

No (economical) licence, no rig, no cash. You boys need him to pull the rabbit out the hat here! IG

@BrokermanDaniel - tweeting about #SRSP Rig Mobilisation news close etc Take of it what you want IG

Nice to see L2 looking stronger. Currently 3v1 with lots of support on the bid. 1p will not last much longer. I can still see 3p on / around spud date. IG

Oops .... scratch the stuff I posted about warrants converting. I was mistaken about that - the total shares in issue has not shifted. It remains circa 264m. Should check my workings before posting :-) The other speculation of Reuters ii holding drop being identical to the total of the 2 BOA increases, is still valid. As I mentioned earlier, the reuters holding has now been reflected to show the first BOA holding RNS and sits as below ... Institutional Holders % Shares Owned: 55.34% # of Holders: 29 Total Shares Held: 146,099,695 3 Mo. Net Change: -725,593 # New Positions: 0 # Closed Positions: 1 # Increased Positions: 1 # Reduced Positions: 3 # Net Buyers: -2 GLA IG

Tobias. I think we could only discount Aviva. Feels to me that the drop and subsequent rise in ii volume (on reuters) is too exact to be a coincidence. BOA [SG] have imo been given the nod about a distressed seller shedding shares [or an ii moving from equity to warrants] and they are taking them on the open market. They could possibly have been responsible for the recent sp resisitance - if they knew the timelines and wanted to secure a better price. Be interesting to see if it continues, ideally we'll get a TR01 from the seller. And i wonder if we'll get the warrant conversion RNS i predicted... IG

Has been adjusted back upto 55.34% - to account for the first BOA increase. Still another 178k to be reflected from the second BOA RNS. Which will restore us exactly to the original 55.53%. So we never heard who sold the 2.7m but it looks 100% clear that BOA took them from another ii. Potentially unclearable change? Would love it to be AMP selling. Also worth note is that there appears to be a significant discrepancy in the 'total shares in issue' shown by reuters [reuters is higher] - so am expecting a large warrant conversion RNS today/tomorrow (rushed calc was either 600k or 1.2m). IG

Seen a few rollovers over the past week. People moving to ISA / SIPP ready for rise. A positive sign that rig news is expected and the sp bottom is in. (and now gone) IG

by the looks of this. Expect we'll see 3p in short order. Amazing where this is, given the contracts with BP, COSL & Schlumb. IG

not such a loonie now ... 16% up and climbing ;-) the BP, COSL & Schlumb contracts were the hint. IG