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Or put another way here - sanity helps restore sanity - a long way to go yet but people starting to see yesterday for what it was - even though it's almost impossible to understand the magnitude of what occured.

Or put another way here - sanity helps restore sanity - a long way to go yet but people starting to see yesterday for what it was - even though it's almost impossible to understand the magnitude of what occured.

Looks like the bus will make several stops on the way as people get on and off but those that can furthest will probably get best bang for their ticket

TR1 then?

Almost feels like I am glimpsing into the future and AI has taken over - fascinating and frankly frightening as it doesn't look like common sense has a role to play at the moment here.

Just watch the trades gallop through on this site - this is in the hands of bots / algos at the moment - no way individuals are making individual decisions unless they have some range trade auto instructions

The sheer volume yesterday smacks of a sophisticated short using bots - is this feasible or even possible?

Dark arts in motion

I wonder whether we will get an official RNS response to not only steady the ship but add back some perspective and sentiment into the equation. Hope so.

Ignore - must be my platform

I can't get a quote at the moment?

Can happen when sentiment is being played with, rather than fundamentals.

Watch out for any stop losses being triggered.

Agreed. I wouldn’t be surprised if early afternoon we see a few chunky buys that will lead the way. At the moment it feels like everyone waiting for the next one to make the move. When it goes back up I think we will see as sharp a retrace as we did the fall.

I'm in your camp Surfi - and for context at 1p our MCAP will be just shy of £40M - so if it is very very big as we hope, not an unreasonable number.

I suspect there will be some interesting conversations going on at Franklin Mutual shortly. Their 5% stake has virtually halved in value since the TR1 end of October. I am assuming that they did their due diligence. So has todays drop been orchestrated by shorters? I have no idea but the % drop just feels over done and strange unless someone can provide an alternative explanation.

Feels like the usual over reaction from the market this morning, followed by opportunists, a little short term profit taking by the same and then a little more considered reflection and averaging down when the waters have settled should see part of the sting taken out by close.

A case of the dollar strengthening - but this will be relatively short lived and when the honeymoon is over and the US debt continues to mount, then I expect that we will see the $3K threshold broken next year.

Maybe earlier than December- I get the feeling that Omar likes to surprise and delight holders.

SunkenSailor - I'm not suggesting they will be reinventing the wheel here but maybe my experience of corporate lawyers and watching involvement in cross jurisdiction deals differs and this will be plain sailing (see what I did there :-) ).

100% with you on your hopes for one of the inclusions by the way.

Add all that into my previous post on lawyers and you can see how time can go.

All part of the necessary process though and we are moving forward so all good.

Force Majeure: Details protections for unexpected events that may impact offshore operations, like hurricanes, equipment failure, political unrest, or regulatory changes. This clause often allows for suspension of obligations without penalty during force majeure events.

Regulatory and Government Approvals: Offshore activities generally require numerous approvals from governmental and environmental agencies. This section includes a list of required permits, approvals, and the responsibility of each party to secure them.

Data Access and Confidentiality: Grants the farmee access to offshore geological and geophysical data, reports, and production data. Strict confidentiality clauses ensure proprietary data sharing and restrict use outside the project.

Termination Clauses: Outlines the circumstances under which the contract can be terminated, such as failure to meet offshore work obligations, regulatory non-compliance, or environmental violations. It also includes conditions for exiting operations safely and securely.

Dispute Resolution and Governing Law: Offshore operations may involve multiple jurisdictions, so this clause sets out the jurisdiction and applicable laws, often opting for neutral forums and arbitration (such as the London Court of International Arbitration).

Each of these elements is tailored to the complex regulatory, environmental, and operational landscape of offshore oil exploration, providing clear guidelines and safeguards for both parties.