Member Info for jockosjungle

If I was a contractor and offered $10k cash or $20k of shares, that I could probably sell for twice what I paid within a few weeks. I know which I would take. I'm not sure what it really tells you except an appetite for a bit of risk, oil contractors are not known for being impoverished so why not? If they'd took shares at 2p I'd be more interested. I'm not saying it tells you nothing, but we haven't had any actual news for a while now. OK we are now debt free, but that news is not new, it was announced and now they're just saying it has now happened.

You drill a hole and take some samples, not sure how anyone involved can know much more except it's a decent prospect.

At the end of the day we are waiting results. Those results could be positive or negative.

It's not the Beverly Hillbillies, when he digs a hole and oil gushes out.

Be interesting to see what America does in a bit.

Pete - I think people just got a bit carried away. Because they think it's going to 5p again. It may well.

The debt is cleared because they sold an asset, largely its neutral except for the interest saving, saved a million quid, hardly a reason for a 50% rise.

Nobody seems to have a good reason for the rise, except an odd belief someone is about to offer them 100 times more than their shares are worth in a takeover.

The company lacks real money, they've just given away a sizeable chunk (huge if the oil is there) to the last partner. They now need resources to continue exploration. A farm in? Share dilution? Loans?

I've been around this board long enough to see us go from us all retiring in the proceeds to "duster dave"

I'd suggest at the current price there is longish term profits but if you buy in, have some cash to average down next week

$2?? Maybe some long time in the future when this has been properly proven and oil is flowing, but that is years away. Its risen for no massive reason, bit of speculation but more exploration is needed next year.

Might go a bit higher, what I recall last time was the US pumped it up and Australia took the profit and we ended up where we were a week ago.

Not sure why everyone is buying in at 2p for such a great investment, nobody would touch it at 1.25p.

Just a bit of a frenzy that will die off when people on stocktwits run out of memes and wonder why no take-over bid of 30p happens tomorrow.

What's sending it up? Last time it was imminent massive results that they ballsed up and said they'd have another go next year.

It was a good speculative investment last week, tomorrow I'm not so sure.

https://www.fool.co.uk/investing/2021/06/29/why-88-energy-shares-popped-25-last-week/

Quality journalism as always, I wish I'd sold my shares for £4.70, damn I'd even take £1 level it claims they currently are.

You only need to look at the top risers and fallers each day, and have a bit of a memory. It's not always the case naturally, but generally what you see is that a good number of the top fallers were yesterdays top risers. Just the way it goes, look at stocktwits, people buy in expecting $1 a share the next day and then get cold feet because they don't actually have the money to speculate on shares that go down as well as up. If you'd bought earlier in the week, you could easily have been looking at a 25% profit, so why not sell? That's not a bad return at all.

TBH this share has great potential. I'd say anything below 1.50 is a decent buy in price, but I think we will see these big rise days when the price falls and people realise the share is too cheap.

Cat - Aimed at me I guess. Harbour - Yeh 20:1 share consolidation but the price also tanked when they did it (hidden by the huge jump in share value if you're not a holder). So I averaged down a fair bit but still took a large hit on my shareholding when it crashed about 10%.

Back in the green on this share! No longer the drag on my portfolio, that's now Harbour energy!

Still seems a little odd to me, can't see a massive reason why we're getting the positivity on this atm. I guess we're a little closer to news one way or the other. But generally someone must know something.

Free trade letting me buy (after sorting out my shares a bit earlier). I've topped up and managed to get myself down to an average of £4.15, which I believe we will see when all this has sorted itself out. I'd guess more people would be buying in at these prices if their data isn't showing a daily rise of 1739%. If people could see these were down to nearly 18p equivalent, people would be filling up I think.

I can neither buy or sell on free-trade. Can't see how the share price can move much if nobody can buy or sell. I thought this would happen.

Seems good. Whoever bought 4.5m shares at the close timed it well.

Also not sure they can time the news to suit them, on a Monday or whatever. They've surely got to.give the stock market news when it's news

Will this consolidation be automatic and quick? Just remember back to the HBR listing, I was stuck for days with my shares in no mans land. Will we wake up Friday morning and have new shares?

Some decent buys there, can't really see this is based on that update, personally I expected it to fall after it, based upon it not being the exciting news people are waiting for.

Is some news starting to leak? Surely it'd be hard to keep test results secret.

Sold an asset, paid off a liability. Pretty neutral really. Could have kept it all as cash and funded some drilling, but guess they've saved some interest.

Is it a concern about the £14m? That might be the cash but they also got shares, royalties and bonus payments. If this is a gusher, I imagine we'll all be complaining about the terrible deal we struck here, making them rich for doing no work.

Not saying you are necessarily wrong, but renewable assets aren't really the same as oil, for want of a better word, because they renew. OK we're only getting £2bn from £20bn, but that will be every year, it won't really run out and just keep on giving whilst the oil will run out in any given location. They're pretty good returns, easily servicing the debt that would be created to buy them.

So presumably as oil declines eventually we will be a huge solar colossus. Personally I think oil will be around for many years to come yet.

But plenty of solar investments return similar levels to BP

Popped back in tonight to receive my explanation of why the CARD dropped 10%, but I must have imagined someone coming to do that as the post has gone. Bought some more this morning so actually clawed some more back by buying at 2% down on the day.

There is definitely an online presence, I got a free card from a national newspaper (forget which) so they're looking to increase awareness.

Pokerchips - no you cannot. The price is up nearly 3% today, have 600m shares been purchased?? They've probably been linked up with someone looking to sell them, or a few people. It works for both buyer and seller, a seller cannot dump that many on the market without it crashing, and opposite for a buyer.

Were they starting off from zero shares??

Do we know big investors are not buying in? Do they actually need to buy the shares on an exchange like this?? Or can they not be done with a seller and a buyer coming up with their own price, probably a lot easier to dump a load of shares that way.

Hi Dunks. Mostly correct. You'll go from having 2000 shares to 100 shares, what they will then be worth is anyones guess, in theory they should be worth 20 x your share values as you still own the same percentage of the overall company.

So they'll probably go from 20p to £4.