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3rd tranche - 75.2p (first at 75.64p, second at 74.5p). I don't see it dropping lower, if it does will buy my final tranche. Ready to ride this one up.
From 4.25p to 3p. Previous support level. On a chart it is a good buy. In terms of newsflow - well it is definitely due. Won't take much for this to be knocking on 5/6p.
Do you seriously think this is going down much further? I'm building a position as we speak. 2 tranches bought this morning, first just above 75 the 2nd just below. Still have 1 or 2 more tranches to buy depending on price action. This is going up from here.
2nd tranche - 74.5p
First tranche bought at 75.64p. Will happily buy my second tranche lower or a bit higher depending where this levels out. Won't be red for long.
Could well be a good run when news flow gets going. That is a few months off yet. Positions will be taken no doubt before then but definitely not last chance to buy. Personally I see it bouncing off 22/23/24/25p back to 17/18/19p area over the coming days/weeks/months until substantial news flow is produced. By which time you can have your 'Last chance to buy' phrase that has a bit more chance of holding up.
Wouldn't say don't buy but bend me over and call me Moses, it is far from last orders.
Good close today. Went from a few % down this week to 0.2% blue thanks to Omega. More again next week and onto game changing news!
What was bad about the RNS? Looks fairly positive to me... 6 wells for 25 years on production? Am I missing something? It is the difference between selling a plot of land or getting planning permission for a house on a plot of land. The latter makes you a lot more money!
Yeah, maybe was a bit full on ramp mode there. However there is something about the recent silence that makes me feel like something is brewing here. Oil price going up. Gas price massively gone up. Shortages with gas imports. Green hydrogen. Newly upgraded refinery nearby. There is a lot of potential here that should be noted. It's just a matter of joining the dots.
All starting to come together here. Sellers just about cleared just in time for news. Big players looking for green gas for gas to hydrogen whilst there is a gas shortage in the UK. Ticking time bomb here.
I agree. The market cap is lower than their value of producing oil. We have gas and helium is one of those company making assets that could 10 bag + this stock. It would take off into oblivion. Very low risk in regards to mcap being perched by their currently producing assets.
Not much downside left. Risk v reward here seems pretty epic. Just a waiting game.
20 billion contract with no RNS... that's why lol.
Bought the dip and sold off on that spike. Perfectly executed. GLA
They RNS'd because they had market sensitive information. However the sidetrack was always planned. WNB-1 and 2 (the sidetrack) would be drilled at the same time. Planning for testing was done for if they hit oil in both but it wasn't necessarily expected. Hitting Kirkham Abbey 2.5km away shows the size of the gas field. Sadly missed the Cadeby but if you look at the map they have probably only just missed it. They are right at the edge of the field. https://reabold.com/wp-content/uploads/2017/10/Corporate-Presentation-February-2020-FINAL-05.02.20.pdf page 8.
Some big buys going through this morning. Company buying before interviews? Or maybe people are waking up to a good opportunity at these prices. Results were somewhat as expected IMO. The risk was intersecting the Kirkham Abbey. Cadeby was always an unexpected bonus.
Sorry - the oil needed a pump to flow it properly in the first test and they didn't have permission for this. Although the gas was coming out with condensate.
Hold on though. Kirkham Abbey is still possibly oil bearing even 2.5km away. The gas was sitting on top and condensate below. In the initial test of the Kirkham Abbey they managed to get oil to the surface but there was no plan for flowing oil and it all seemed to want to come out so the test was delayed. Nobody has said there is no oil today just nothing in the Cadeby Formation.
The primary pay zone has been hit. 2.5km away from WNB well site. I find that highly encouraging. 70 meter pay zone with gas and oil (from WNB).
Anyone calling this a duster needs their brains checked.
They stopped the well test at WNB because their testing plan was aimed at gas - but they had oil condensate coming with the gas so they had to stop it. Wrong equipment. This time they will be testing both wells simultaneously after they finish drilling.
I am disappointed they missed the cadeby but it is in no means a duster. Attempt 2 may prevail.
Taken a few more today on the drop. Good results and better than expected IMO. I was expecting a decline in revenue yet we increased revenue 9% and debts stayed inline. Lots to come in the next 2 - 3 months. Their library will be a game changer here and this isn't far off. I would expect this to bring them back to profitability and has huge potential for growth. Whoever is selling didn't do their sums before today. This is a very happy hold for me.