Member Info for JohnHenry

Nope not at all, continue to add at these prices.

Davey50 you do realise that the majority of the buying would have been shorts closing.

Mossma PRD found 2500 psi ZYHR found 9300 psi now thats serious pressure

$213 getting close to that $205 breakeven

Agree Ahananda however the financial control has been woeful and they will be almost doubling the shares in issue.

If the CEO doesnt substantially participate in the fundraise his % holding will drop from 43% to 25%

Im surprised at the amount they need to raise. nearly £7M

Placing price hasnt been set yet ?

Raising £6.9M when your MKT Cap is £8M is highly dilutive.

Sorcerer the CLN provider @ 10p will simply off load the converted shares when the SP is above 10p.

Imho the placing will be done around 7-10p

Unfortunately the CEO doesnt dictate the price, the providers of the Fund raise will decide at what price they are willing to invest.

RNS doesnt read that Fund raise will be in the form of a CLN.

Sounds like a discounted Placing.

As far as i am aware PRD do not know the full extent of the formation damage, only that the damage is greater than 8-12 inches.

Back to £30M MKT Cap

Large seller still dumping stock triggering stops.

Small dilution and the SP opens up 20%

The market would have got wind of a placement if there was one, especially as its been flagged for months. imho its either a convertible loan or a strategic investment.

Reading through the previous RNSs the company where quoting poor borehole conditions simply not using the word damaged.

Spooked the Market.

NM

Jimmy23 just a quick question excuse my ignorance but surely the company should have find out the maximum formation damage rather than the minimum ?

Another 500k sell at 03: 30 and a few 250k buys towards close.