Member Info for LONGWAIT

'even if Te10 is a duster the worst we will see is 11p'

I'm hoping it will be a success, in which case I would hope to buy more.

I don't see how you can predict the lowest price in the event of failure.

I HAVE got bog money on this and I WON'T be righting it off.

The oil really is there and it really has flowed and I really know my spelling.

https://www.worldoil.com/news/2018/12/13/premier-oil-said-to-eye-bid-for-chevrons-uk-north-sea-assets

Well, Sounding off, the coma after 'basin' is missing with good reason and, if the broker had intended to convey that meaning - that the assets would be sold whatever the results of the drills - he would not have written 'to
ascertain the potential running room in the licence for future drilling.'

He wrote:

'This programme has been selected to explore three
major geological targets and will then allow the management to

(A) ascertain the potential running room in the licence for future drilling
programmes or

(B) to demonstrate sufficient understanding of the basin to
be able to monetise the assets early.'

I've added (A) and (B) to make my point.

'This programme has been selected to explore three
major geological targets and will then allow the management to
ascertain the potential running room in the licence for future drilling
programmes or to demonstrate sufficient understanding of the basin to
be able to monetise the assets early.'

That contradicts JP's declaration that SOU would be sold, regardless of the outcome of the three drills.

No-one has been listening to any broker's valuations for several years, which is why the share price has been rock bottom for years.

That doesn't mean the brokers have all been wrong about the potential. value.

I noticed that Jimmy, who until recently had been a sceptic, thinks the value of Barryroe to PVR could be more than Davy's valuation of the entire portfolio.

Have you taken into account the debt mentioned by some posters?

Can you please tell us the gist of it?

In former markets, this share price would be above 100 p now on excitement and anticipation of success.

In today's market - and this BB reflects this - every attempt to make a new high is hit by selling, whether the sellers own the shares or not, and we hear about how many things could go wrong, 'the concept is unproven,' 'the price is where it is,' and so on.

When everyone realizes that Dr Trice has been right all along, that nothing has gone wrong, and that the company is absurdly undervalued, and majors are bidding against each other for the company's assets, the share price will be somewhere else.

They reckon TE-5 is worth 27 p per share, but it could be worth much more if TE-10 succeeds.

So we have to wait to find out who is right....

The bid/offer are unchanged at 1.50/1.65, yet the change in the mid-price is shown as +0.045

DON'T be scunnered!

That was no Freudian Slip on my part, Dickupham.

It really does seem as though the AIM market's price action reflects disbelief in any announcement of any gas or oil find.

As I remarked in another post today, the market seems to have changed fundamentally, but as I noted a while ago on another company, the market cannot argue with a firm offer for a company.

I am aware of that, JAS.

Based on the new number of shares in issue, the high was 295 p.

In addition, the company has gained 91 p per share in cash, yet the share price has fallen by 54 per cent.

Well, there was a rapid correction from 399p, and the price has been in a bear phase ever since then - in September 2017, more than a year after the referendum.

The oil price is actually higher than it was when the share price peaked.

I can't see any rational explanation for the low share price, but then I don't consider AIM to be rational.

But why?

Why - instead of excitement about a gas/oil find and how much it could be worth - why decide that actually, it's worth very little?

It's as though no-one believes anything on AIM.

No-one expected a price of 11 p pre-Te10.

What we think appears not to count.

That would mean the market disbelieving that any gas has been found.

Can someone please tell what POQ stands for ?

Remember that the share price was just above 60 p BEFORE the drilling success was announced.

A premium of less than 100 p seems derisory.