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42t, thank you. Sounds about right for where we are today. Surprised at some of the comments posted today. As posted, some may be justified if we were sitting at 30p. Who expected a cash position of 70m? As for the market not being impressed, we are 3 hours post RNS.

…. but we are at 14p and not 30p

Apologies if so but the money will follow on the back of expected production increase and strong price.

JP, they have just paid for the rights for Put -8. ($19m) No sign of the PoO falling back to historic lows. In fact the Saudis want the price higher to cover their spending plans.

jtd's. 'All to play for now that's out of the way and those on the Bear side have had their ammunition taken away'

Spot on. !!

42, I suppose a line is drawn now on past performance and statements. No surprises, undervalued and very low risk in comparison to the majority of oilies on AIM

BBN, nice overview. Despite the current trend I have remained very optimistic as the fundamentals paint a very different story. Again on opening the low UT gives the impression of further weakness and again within an hour of trading shares are being bought close to the Ask. Not the usual AT=s so CD may be right. Seems more like the Doldrums than the South Wind but our sails will soon be filled.

Not checked NEX but the last trade was a buy at 26p so not sure of the closing price.

caution, with so many shares in circulation, 36m shares are required to take a holding above 3%. I can only assume that any institution selling are below the threshold or trading within the 1% range. If our seller has indeed cleared then that will only be good and we can all move on from this trend that has gripped the sp for months.

JTD's, pretty sure I read an article last month that Colombia were in the top 2 of countries having the most successful oil discoveries. I think it was Russia, Colombia, followed by Australia and Pakistan.
Certainly nothing wrong with the Geography. Investment was following the PoO. Seems to be a scramble now for blocks which is very encouraging.

Tradinginvestor, fingers crossed. Ridiculously cheap on every level. You think you have seen the last of the ATs and then they kick back in. I see that a low UT price has been published on the opening of the last few trading days, giving the false picture of more weakness. Reversal of the current trend will come, maybe 1.72m will be the trade that clears the decks.

CD, nice find, not many to go. Seems to have found the floor now but will be a lot happier when the ‘bots’ F off.

Jimzi, quite correct. Unlike MTFB and WSG that have had plenty to report over the last year yet their sp is on a all time low. You seem a little 'battle weary'. Despite no news FLU-v trial was successful and will go to stage 3. I have plenty of patience, make my own decisions and try not to become bitter when things don't work out as hoped. Lots of institutional influence here to make sure value is realised for shareholders.

BBN, I think some investors have not grasped the fundamentals. Many investors 'battle weary' with the AT's. Investors that were hoping to sell into a rise on the back of Cal-1 being commercial. MMs dream, trades generated by fear and frustration.
We have a 30% interest in a drill campaign that costs us nothing. Everything to gain from other drills that could be successful in the CPO-5 block.

Imo, they should be seen as manipulation. Certainly rules in place on the LSE but they never enforce them. Gives those initiating the autoboots an unfair advantage. Prices to buy or sell can be agreed and the sp manipulated to suit their agenda. Of course good or bad news can momentarily nullify them but they kick again when volume stabilises.

This company does remind me of SLP, similar fundamentals. Profit making, cash in bank, low extraction costs, reserves rising. Share price drifted between 7p and 9p for months on end. Investors discussing poor share price performance even though the fundamentals were good. Then without reason a total reversal.

Yesterday's news was disappointing and to be honest not totally unexpected in terms of exploration but the negative news brought the inevitable AIM overreaction. Unfortunately it's part of the course. The reaction to Put-8 RNS was ignored by the market but now that AMER have exercised their first refusal option their assets will be of further interest to it's competitors. Hoping that ONGC can move things along and get some spudding news out. Great entry price at this level.

Come on guys. Some experienced investors here. The drop is just a reaction to the news this morning but does not reflect the fundamentals of the company. I know I'm pi55ing in the wind but one duster doesn't justify a huge drop on a MC that was already undervalued.
Good luck to the new investors taking advantage of the fall, much more to come, some promising prospects to be drilled. Like today not all will be successful but I have no doubt production and reserves will increase as the year progresses.

Not expected, but nature of the business. Was testing the boundaries of the seam. Always undervalued with or without Cal-1 being dry. Still producing oil with reserves increasing. A setback, but that is all.

Ade, not 500k but a 300k trade.. maybe some big orders being worked today. AT's working OT.

tom, the sp will follow the improving fundamentals. Sp stagnation is down to manipulation but it will turn. Tbh I see it a buying opportunity since the Ind 1 result.

I see another tender has been added overnight for the tender of a Security Agency (previous tender was for guards) in the CPO-5 block. For those familiar with the geography of the licence focus seems to be in the municipality of Cabuyaro, Puerto López, and Barranca de Upía. The latter from memory being the current drill pad. The map in section 111 (scope of work) clearly defines the area. In comparison to the last tender asking for guards, there is a clear anticipation that the assets in CPO-5 are becoming more valuable.

www.ongcvidesh.com/wp-content/uploads/2019/03/Tenderdoc-Security-Service2019.pdf