Member Info for jonesrichard

I didn't personally state that myself, was relaying what someone else thought possible, hence the quotations at both ends of the message, look properly before you post. x

"#OEX Right-pointing double triangle Megabagger

CAMBAY = MEGA RESOURCE

U.S based EIA = estimates to hold in place

30 TCF = GAS + 2.7 Billion of OIL

Mcap = Only £27M?

J.V= ONGC, B.P to name a few

88e Hit £550M+ MCAP Recently.

Expecting plenty of NEWSFLOW & a few surprises that will get folk VERY excited"

This poster seems to be very hopeful, hope they are right that we will be very excited here soon as right now I'm feeling very depressed and disillusioned, a few surprises will be good as long as they arnt the negative/tank the sp by 70% type surprises that I've had to endure recently!

could be possible before end of year here:

#OEX "Government of India has been kept informed at all stages of discussions. GOI to approve ASAP. Add in advanced discussions with third party to buy the 55% and provide working capital - Q2 2021 to be transformational. 1p short termp+ 10p+ end of year"

https://twitter.com/adymcquillan/status/1379340435244597248/photo/1

for the sp to reach 38p to join the millionaire club! most probably unlikely, in reality I'm sure most here would be pleased if we see the 10/15/20p region at some point, seems like there is plenty of news to come this quarter so I guess that's why many feel that 3-5p + is possible in the near term here. Good luck to all holders moving forward here!

You think this has 10 bag potential this year? or even this quarter if JV announced?

or is it more likely to be announced after everything is signed off by the Indian government? Just saw someone mention BP, would they really be a likely candidate for a JV?

Is the sp just being held back so someone can load up? I thought that the ASX price usually aligns with the UK price so the sp here should in fact be over 0.70 now?

I was basing it on the following post today:

Bmdjf

Posts: 185

Price: 0.39

No Opinion

RE: Mcap ASX Aus$53 mToday 14:12
"Think we should be 120mill mcap now
That’s what’s been invested so far
Come on oex"

On the basis that the MCAP is only around 25 million right now, so on that basis the sp should be 4/5 x higher than it currently is but then again I'm not sure what the poster above is referring to when he states that's what's been invested so far?

So the sp should actually be around 600% higher than it currently is?

They generally seem to be of the following view in the US:

"Read guys. They plugged harrier and not Merlin-1. Wirelog testing still ongoing on Merlin-1. They also found more targets with note, oil! This is just an update and not really news from current Merlin-1 testing. Plus this update is huge...they found more oil!

This is huge news!!!"

It's actually not a terrible update at all its's just that it wasn't what people were specifically hoping for but some really positive stuff came out of it, will take a few days for everything to settle down and the traders to exit, a fair finish by close this Friday will be in the 2.2-3p range I feel based on what the update actually contained as a whole as opposed to concentrating on the temporary plugging of the two wells, it's not like they stated that they have abandoned those wells is it, any drop this week will just be due to impatience as opposed to anything having actually fundamentally changed with regards to the prospects moving forward bearing in mind they actually encountered more oil than they thought was present! this is a timeline logistical failure more than anything else, next time around there will either a new CEO in place or the company would have been taken over by a bigger player for many multiples of todays sp!

I've no problem waiting an extra 12 months, lovely chance to increase my holding!

Upped first slice target to 50p after tonights update, I personally see extra oil found as a positive bit of news! going to take a little longer but it should get there in time with some patience.

"Here’s something for the bears/shorts: Merlin was initially thought to be a 645 million barrel site and has now been upgraded to an estimated 862 million barrels. When I say good news I mean better news than originally expected. Learn to read reports"

https://twitter.com/BrandonKodallas/status/1379219458426724352

"THE TRUTH. Don’t let clowns tell you that the press release was bad...Too many people had unrealistic expectations as to what was going to be in the press release. They thought all of the samples would have somehow been tested and there’d be an exact barrel count"

https://twitter.com/peeonstick/status/1379214893837131777

The more I read how they have digested the update in the US, the more it is sinking in that all is far from lost being invested here irrespective of how the short term traders react tomorrow.

"More details to come after samples are analyzed.
Two holes are plugged to come back to...not abandoned!"
Oil is there!!
Quote Tweet
Dan Maassen
@RollTide_Dan
· 36m
@_RobertMichael_ " If I'm seeing this right the document states they may have found more oil than they expected. they will update us in the following weeks with lab results $eeenf this could be even more dollars $$$"

So they clearly don't see it as all doom and gloom, guess we will have to see how they react down under, guess there will be a dip until the whole of the update is digested properly over the coming days.

On the plus side they encountered oil in an area they didn't know it existed! at least they know oil is there and also any perspective buyer of the company knows that there is plenty of oil there so there is still value in holding for a T/O will would surely ultimately be much more than the current sp.

To be fair they actually encountered further oil, obviously this won't be the take away but in the end it actually came down the an issue with the equipment from what I can gather, I think all in all it's not as good as some will say but it's also not as poor as others will make out, the truth is somewhere in the middle with regards to this update I think.

when you actually read and take in the whole thing, the market should appreciate it also presumably?

They plugging it?

We have to wait 16 minutes!!