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If that is your honest opinion persimmon then you are even more stupid than you sound. No offence intended of course, but if an SP doesnt reach a plucked out of thin air level by a meaningless timeframe then RBD will crash and burn? I hope you dont invest with real money.

Back in the real world. Was hoping for VG4 news this week but looks like we're into next week for an update. Big few weeks coming up here

"We have agreed a provisional implementation process with NIEEF and I expect to provide further guidance thereafter"

Unfortunately PREM have given no indications as to what happens now. "Later this year" is about as much as we've got at the moment. They obviously can't proceed with plant upgrades until they have the funds from NIEFF. What we need to know is when will PREM be in receipt of funds from NIEFF and when we do eventually receive those funds how are we going to use them to get RHA into steady state profitable production.

"The traders who wish to post time after time and talk to themselves" - Smilemore 08/05/19 after over 1000 posts 99.9% on PREM in just under 2 months.

Ever thought about stand up?

The title of this thread pretty much sums up PREM. It's always the "Next RNS".

On the face of it, todays announcement seems like a great result for PREM. The market is clearly still skeptical so what is needed now is delivery. Over to you PREM.

The funds dont come from the loan account, they are coming from NEIFF/Zim Gov. The funds received will be offset against the remaining balance of the loan account i.e. the money owed to PREM by RHA

- When can required upgrades commence at RHA?
- When do PREM expect initial/breakeven/profitable production at RHA?
- What has been done to rectify previous management failings at RHA?
- Where do we stand with the KME/HBR deals now that funding has been agreed for RHA?
- Are PREM still looking to fill missing experience gaps, both operationally and at BoD level?
- Is the drillbit turning at Zulu?
- Will funds from production at RHA support operations at Zulu, or are PREM still reliant on placings?

So big George has got the deal over the line. Around 50% of our MCAP coming in cash from NIEFF (I thought they were no more?!) but only a disappointing 10% rise so far. I guess there's a lot more work for PREM to do to win back the trust of PIs and shake off the unwanted reputation they have earned themselves.

Its a start, but as always we're left with more questions than answers after that release.

Just shy of 40million traded today with a late trade worth £240k to start the long weekend! Considering the SP barely moved all day where is that overhang coming from at 4p?!

Week ending 10th May for VG-4 tie in. Maybe get Burnett-2B result next week as well. Some concrete numbers on VG-4 to add to existing production at VG-3 and a hint at what X number of MS wells can each produce... roll on next week.

Either that or PREMs accountant has had a heart attack - money has came in the way for once.

Well that's another week almost in, more meetings between PREM and whomever to finalise RHA docs and another week without the news so desperately required.

There must be a hell of a lot of i's and t's in those docs.

Big volume day lots of trades going through at 4p. Looks like I was a slither early with my buys at 4.095p but whats a few extra shares between friends. Plenty games going on behind the scenes but I'm happy to wait for the oil to start flowing, at which point we should be multiples higher than current SP.

You'll have to beat me to the exit door first!

No, it was "chippyjoe" now F off!

(to be taken in good humour :) )

It better dip quick then because if that's the test string going in today they'll be ordering the test equipment before the long weekend.

Tuesday update: well has been re-perf'd, re-completed, water has been successfully isolated, test equipment ordered and rig demob commencing. All going to plan and on budget. Hello 5p for breakfast.

Scooping them up at 4.095p

Entry below recent placing price.
All works to isolate water on track and on budget.
Newsflow next week - operations update 7th May.
RSI heading into oversold territory.
Gaps to fill in 4s, 6s, 7s, 10s.
Traded at over 3 times current SP when Brockham was last set to flow last time around.
Latest footage from Brockham suggests plug is in/going in.
Unconfirmed rumours that Vonk has been invited back to "turn the tap on" and get this thing gushing.

I can't quite remember off the top of my head but the last time we were expecting RHA resolution from the Zim Gov, the Gov announced that they were going to deal with X cases per month or something along those lines. Is it now just a case of "its our turn" and we're up next?

I don't particularly care as long as funding is forthcoming, but it would be funny if the Zim Gov knew all along rough timelines as to when this would complete whilst we have been living in desperate hope for so long. I say funny, really I mean fecking infuriating.

They are chasing 2 independent targets with this 1 drill. They can't/won't sit on news for the first target whilst they drill deeper towards the second target. SW stated this in his latest (directors talk?) interview.

Of all the drills I've seen where multiple separate accumulations are targeted from the same well, companies have RNS'd discoveries as and when they are hit. I am 100% (or should that be 72%?) confident this will happen with RBD.

Adouble,

I have no such worries with RBD. West Newton is only 1 asset in a portfolio of several company-making assets, so even if the drill didn't go to plan its not "game-over" for RBD. Also worth noting they are drilling an appraisal with a 72% CoS. The A1 well found the gas, there is no wildcat drilling here we are appraising an existing discovery which is located in a prime location for fast monetisation.

RBD are also obliged to update the market during drilling. If (when) gas shows are encountered this must be RNS'd and at this point it really will be game on. I'm not counting on any success chasing the oil but still see multiples of current SP when the value of the gas is proven up.

It would be nice to get out of the .6s once and for all this week - I see .7 is now being paid. GL.

Not sure why so many are surprised this morning, ANGS have done it before and they'll do it again. Their track record is horrendous.

That being said, there's a nice trade in there if you still have any faith left in Tidswell. SP @ near all time lows with decent news catalyst due by early next week.