Member Info for LeMajor

Tondy, if there is one date you cannot mess about with, it's the Annual GM. It will not vary much from year to year.

Suppose Bex are using the FO as an opportunity to sell out. PB wanted to set up a foundation, so given that he is no longer driving the HRZ project for Bex, his trustees may be looking for an opportunity to move on, albeit in a scaled-down context.

The legal stuff may be even more intricate than we imagine.

With AGM in 4 weeks we probably have a 3-week window to receive FO news, and any other news (e.g. HRZ, Yukon).
I would not be surprised to see at least 2 RNS's within that window - maybe a presentation update will be one.
It will be Friday in Oz soon, maybe a nice bedtime story, yet.

Boldly, this is my 2nd oiler but our current "rough patch" is not unusual. I bought into Dragon Oil at about 3.5p - with good news on the horizon, then it dipped within days when those hopes were dashed. I bailed out a year later with a 15% profit, and they diluted and consolidated after that - however (from wikipedia).... "From 2012 to 2015, Dragon Oil suffered setbacks caused by several delivery delays of a drilling platform, an important part of the companies progress in the Caspian Sea.
In June 2015 the Emirates National Oil Company acquired the remaining 46% of Dragon Oil for £3.7 billion, becoming the sole owner of Dragon Oil.[9] ENOC had attempted to buy the remaining percentage since 2009, at 455p a share, and offered 650p in March 2015. The final price was 800p a share.

I can't recall if the consolidation was 25:1 or 100:1 but I could have made a bit more if I'd held on. Sometimes it takes a little longer than you bargain, but if the foundations are good it could be worth the wait.

I tend to think of project dates as targets, not absolutes. A date is required so that all parties have something to aim at, but some participants finish early others may be late. DW has often added a few days contingency, and then delivered early, sometimes things take a bit longer - there are silly people on this BB that enjoy muddying the water, so latch on to anything other than the actual dates mentioned, even though they are "flexible" to some degree.
We are so well advanced in the FO deal, that I expect results anytime from now up to the quarterly report in April - but DW will probably give us some indication of progress soon, if there is a chance that the full details may not be available until April. There is only so much disappointment we can take, so a spoonful of honey could provide some reassurance (after all he is a major shareholder).

Made a subtle mistake so re-posting earlier comment ( spot the diff).
95% of the CONVENTIONAL portfolio is Business as Usual - it's already been said that Winx was a sideshow.
Unfortunately, we had ringside seats for the show, and it's been cancelled during rehearsals - disappointing but not desperate. News due on FO soon, so it should pull us out of the slough of despond.
It could be worse, at least you're not head of the conservative party.

95% of the portfolio is Business as Usual - it's already been said that Winx was a sideshow.
Unfortunately, we had ringside seats for the show, and it's been cancelled during rehearsals - disappointing but not desperate. News due on FO soon, so it should pull us out of the slough of despond.
It could be worse, at least you're not head of the conservative party.

His investment company took a hit with CTAG and RLH, seems to have gone quiet since. Charity shops were full of shirts following those events - there might be a connection, who knows.

The spread narrowed a smidgen at 3:45pm, it only affected the last 30 or so trades (mostly sells) out of 260 today. No point watching all day, with 2-4 RNS's due over next 3-4 weeks it is not worth being out just in case DW does a 3-in-one announcement.

Buoyant market again today, continuing to turn shares over at 1.4p - but when they're gone, they're gone - sp should pick up as Friday approaches and wireline news gets nearer.
With AGM being 4 weeks away we still have wireline, flowtest, oilfield volume and FO news to be squeezed in over the next 3 weeks or so.

My take on volume is very basic. Buying and selling is about the "meeting of minds". If the buyer and seller are happy with the values on offer, they will trade. The reverse is even easier, if the seller cannot achieve a decent price they will hold, if a buyer cannot get good value they will not deal. To get movement in the sp requires what is currently on the table to be bought up, if it is not the sp will need to be lowered to stimulate the market.
To me it is common sense, you must have movement, and if there are lots of shares available, you need LOTS of movement to clear them and move up (we are only just coming out of this phase).
There have been lots of shareholders who bought at 1p months ago, and held out for 20-25% profit (and most have now gone) but we are on the verge of 100% or more - so some have decided to hang on a bit longer for 30-50% profit. I think that as they get their target the short term holders will get fewer and opportunities to buy will diminish, so buyers will need to pay more, and the rate of increase in sp will accelerate.
While I have some sympathy with the "sp is not related to volume", I think that it is not as simple as that. To get rid of cheap shares from the table we need volume, then the buyers decide whether to offer more in order to get more shares onto the table. If the rate they get onto the table is similar to the rate they leave we have stability, if they differ in either direction we either get too many to trade (and the price falls) or too few (and the price rises or maybe spikes).

Good volume at 111M, max ask 1.4p so sp is just under at 1.375p - must be on the verge of breaking through to 1.5p ask, but worth keeping an eye on the spread.

Maybe we'll get to 1.5p tomorrow, but will take a good RNS to push us up to 5p. Hopefully that will come within next 7 days (6th March +10 days) but it could be +/- a day or two by the time analysis is performed. Beyond that we have the FO to boost it further, but will it be before or after the flow test results? Q1 has 3 weeks remaining.

Has Oz been moving cash from Rmp to 88e too?

Still available on Amazon "The very best of Des...."
Someone posted " Everybody likes to poke fun at Des O'Connor. This was vividly illustrated in a British TV commercial some years ago (the eighties?) in which a fisherman, unable to catch a fish, started playing a Des O'Connor record. He lowered a speaker into the water whereupon all the frightened fish immediately leapt out of the water and into the waiting nets. Great fun, but his music is much better than that as this collection demonstrates."
I remember the ad. also appeared as a stooge for Eric & Ernie - he was a comic, gameshow host and crooner - did not take himself too seriously.

No volume, no market, no point!
Wales v Scotland - lots of points.

Very good summary, albeit a touch subjective - a bit like Des O'Connors Greatest Hits. All the best bits from the past announcements of the consortium partners. I'm not going to go through it again, but noticed there was only a 12 feet gap between Nanushuk & Torok. That seems a pretty thin barrier between two plays that are hundreds of feet thick, but what do I know. YGIAGAM.

My point was holding a King on it's own has minimal impact, a pair is pretty good, but assuming four positive results, we could be holding 4 Kings, 2Kings & 2 Aces, even 4 Aces - the combination is what'll get us into double digits.

The joker could be the "secondary target" - the Elephant in the room.
The primary may be estimated at say 3,500bbl/day and the secondary as 900bbl/day, but what if it was 2,900bbl/day, would we pass up the chance to test it (assuming the drilling company took credit!). Boom.

We just don't know, etc, etc.

Relaxx, why do you think the other 3 corners are on OUR leases?

The revised estimates on Torok.
The revised estimates on Nanushuk.
The actual flow test results on the primary target.
The Icewine conventional FO terms.

Which one is the game changer? Opinions on a postcard, please.