The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
I think based on the potential of RD if we strike oil and having two waiting testing the SP will rise considerably.
To think we'd have both Heron and Red Deer not "Dusters" and the share price to drop further is very unlikely imo. I can see this rising again tomorrow back to where we was this morning around 7.5/8 as it is such a great entry point. But then who knows...
The million dollar question.. it we knew the answer we'd all be rich .. but just for a bit of fun what is everyone's predictions on the SP for the next 30 days?
I see this morning MMs are desperately trying to keep the SP under 8p. Finally broke it with a nice 125k buy.
Where do we see us moving heading into RD news? Will we do the opposite of Heron and see a SP rise as we approach Friday? I can't see it moving south drastically like we had last week as surely with the Heron discovery we already have a duster at RD factorerd in to the price? Should RD suprise us all, then circa 18p for sure.. if not then I can see a strong hold around 9p for the coming weeks with an increase pending test results for Heron.
I am personally holding out for 30p + and even then would not be selling all if it is confirmed by MB that we are drilling the Velociraptor!
A strange day to say the least. Oil strike and we close down.
Have to say despite being a relative newbie to this, it's interesting to understand how the wording of the RNS can hamper the rise of a share despite striking oil, even if only a short term hit. I agree with posters earlier however that longer term it is irrelevant as if we are able to commercially produce then the SP will rise regardless. Especially if RD comes into play. Who knows what the rest of the week will bring as we close in on news.
Just as an example of wording an RNS, Zenith Energy released their RNS today with the title "Successful Drilling Results" in comparison to our "Results of drilling and Wireline Logging". I'm no expert but can see why it wasn't well received by the market on the title alone!
Hopefully MB can add a bit more positivity into the next one for Red Deer when we hit 48mmbo ;)
Just posted
"The results of the Heron-1 well are encouraging...the well will now be tested and we are pushing the contractor to mobilise equipment as quickly as possible.” Our CEO, Mike Buck on #Heron-1 #MATD https://t.co/fz3zUgEO23
Sounds as if they are trying to generate some positivity following negative feedback
I think people are reading into the half year report that Monday is the day. As prolenses has stated it is very likely to fall mid week. However I feel the MMs will use this to their advantage by trying to get the SP down as far as possible so that any news of an oil find and the share will reach a maximum of 11/12p as opposed to 16/18p if we were around the 9.5/10p on close (as I believe it should be based on the potential).
I'm invested. 250k shares and held them all despite two dips in the SP to the 5.5p levels. I've only been in for around 6 weeks and it's been one rollercoaster.. fair play to those of you in long term. Hopefully next week will mean the best 6 week investment of my life! If there is an oil strike I will take some profits for an upcoming holiday but plan to stay in long term as it reaches 50p :)
Well that's better! It's easy to get carried away when you have nice blue numbers two days on the trot but we are simply back where we was 8/10 days ago. Now the SP has some nice growing to do heading into results week so I would be seriously surprised if we do not see double figure % blue days until close Friday. With the potential for leaks from the crew If there is black gold then 11.5/12p a share would be my prediction on Friday close. Knowing you're a weekend away from results of a 75% COS on an appraisal well still sounds cheap to me but then who knows.... Could always go the other way. That's oil exploration...!
Only my opinion of course but I sure feel better than this time last Friday!
GLA
I think it's the best we'd hope for other than an Oil show RNS.
Destroys the myth of placings, permit issues. Whilst confirming that Heron results (the APPRAISAL well) is due in 7 days. Red Deer - who knows.. maybe it's taking longer than expected as they've actually found black gold and can't believe how much of the stuff there is!
Evening all. Hope everyone has managed to forget somewhat about MATD and enjoy their weekend...
I'm apprenshive waiting tomorrow morning. What's everyone thoughts going to be if the red dot appears at 7am... Think I'll be slightly anxious before hitting the button!
Fingers crossed for an RNS stating the permit has been signed no further issues, oh and a nice statement that begins with "We are pleased to announce".
Last time we fell to 5.20p a few weeks back I was disappointed at 7:00am and then 34 minutes later pleasantly surprised .. lets hope MB gets in the office on time.
Great post ..
This has been one hell of a rollercoaster up till now. I won't lie, at times I have thought I'm in too deep but I'm here now and will be until MATD are a fully oil producing company.
My first real investment in AIM and I can see now that it truly is the wild west. It's been interesting to see the way the share price can be played by MMs, today has been even more bemusing than yesterday. Loads of buys outweighing sells. The 800k buy and 2 million share volume between 10:30-11:30, only for the share to jump down to 5.60p and watch mass panic for the next 30 minutes...
I've learnt a lot already and haven't de-risked once, although I'd be lying if I wasn't tempted at times. On Tuesday I could reduced my holding for my average weighting. I chose not to and ever since that moment it has declined further and further north...! I topped up for 6.5p yesterday which bought my average down a tad. Maybe could of waited longer but we wasn't to know.
Your post reminded me the reason I invested in the first place, because I believed this was the time for MATD. My focus has always been on the 75% COS of Heron, RD was always a bonus. It's key to remember that Heron was, and always has been the one we thought would find the black stuff. The timing of the two drills being so close makes me wonder if an RNS will update us on both at the same time? Let's just keep that in our sights for results less than two weeks from now. GLA