Member Info for LONGWAIT

I think you have just answered my question about the Equinor discovery, Cebo!

There is excitement today, after Equinor announced a discovery of 15 - 35 mmboe, expected to be recoverable. How does that compare with HUR's discoveries?

Know how you feel, CBB. I'm down 45 percent, having got carried away by all the excitement. I would have averaged down at 38, had it not been for the creation by the company's detractors here of an atmosphere similar to the sinking of the Titanic.

I don't think anyone here has an agenda. I think there is a division between those who have full confidence in the management and those who do not. Only time will tell which side has been right. Let's hope its we don't have to wait much longer.

Yes, Spudgun. We should finally be about to make an assault on 50p.

Thanks for the reminder, Genghis. Edison updated their RENAV last December. It is now 79p. Not sure how much notice to take of it, as it seems always to be remarkably conservative.

I'll let it ride, all the same...

I think the answer to your question is that there is no upper limit and that some posters seem to be guided more by past share price action than the true potential value of the company's assets.

Next month marks the fourth anniversary of my initial investment, so I do not mind waiting a while longer. I would prefer �10 per share, but �5.55 would do nicely! (with apologies for predictive text error in previous message)

Next month marks the fourth anniversary of my initial investment, so much do not mind waiting a while longer. I would prefer �10 per share, but �5.55 would do nicely!

After reading about the profit warning on Malcy's blog today, I hesitated to post a comment, as I am no longer invested and many posters resent negative comments by non-investors. Having read the negative comments, however, I don't think I will offend many when I say that I got out about 3 1/2 years ago at perhaps 11 p per share and have never been back. Suffice it to say there have been enough warning signs in the form of comments from other posters about revenue being insufficient to cover expenditure and when they raised money a year or two ago, and a poster said the new shares were a bargain (at about 3.5p), I predicted another raise at 3p. I have just read that they were in fact offered at 5p, which explains why so few shareholders have taken up their rights. Unfortunately, if the directors cannot raise more sucker money, the company's viability is in doubt.

I haven't been reading posts for a while, but I noticed Double's comment about someone else's notional entry point at 30p. It reminds me of the confident predictions by long-departed posters some months ago that there would be an opportunity to buy at 16p or 17p. It so happens that the lowest price I ever paid was 17.5p, in 2016, and I wish I had bought at even lower levels. I find it curious that the idea seemed to take hold that there was a limit to how far the price could rise, that it could never make a new high, rather like a reverse of the idea that took hold in 1929 that share prices would never return to previous, lower, levels.

Someone over on iii.co.uk discussion is asking which of the two companies has the greater potential in terms of share price. I think PVR has, by a long shot, because it has so many assets and it seems that several of them each has the prospect of making the share price a large multiple of its present price.

Can you please elaborate, Chef?

Sound Energy picked up the Tendrara asset in Morocco during 2015, and a successful drilling programme last year proved that management had made the right decision with several test wells yielding impressive results. https://www.aol.co.uk/news/2017/08/25/why-id-buy-and-hold-sound-energy-plc-for-the-next-five-years-af/ Can someone explain why the yet-to-start drilling programme seems to be regarded by the market as the be-all-and-end-all if there have already been successful drills way back in 2016?

Sound Energy picked up the Tendrara asset in Morocco during 2015, and a successful drilling programme last year proved that management had made the right decision with several test wells yielding impressive results. https://www.aol.co.uk/news/2017/08/25/why-id-buy-and-hold-sound-energy-plc-for-the-next-five-years-af/ Can someone explain why the yet-to-start drilling programme seems to be regarded by the market as the be-all-and-end-all if there have already been successful drills way back in 2014?

Knowing the history of this share price, and with the possibility of a general stock market correction, it is of course possible that it will get cheaper, but how long can it stay this low?

Well, he did say there was something he was not at liberty to disuss. Whatever it may be, it seems to be only a matter of time before another farmout is announced. I'm planning to buy more...

Thanks for pointing that out! Last time I looked at RKH was only a week or to ago, and it was still about 28 p!

Yes. I agree with you again: AIM investors are often really speculators, who rush for the exit on disappointing news and pile into anything that's 'hot.' The problem facing anyone tempted to average down at this level is that if the first of the three drills fails, the price could easily fall to 30 or lower, and if the second drill is a success (and remember - it's targeting a much larger number of TCF) it could double overnight. So why buy now?