Member Info for Margaret365

I think they have done very well and made plenty of cash. 5.8p was muted sometime ago, I think yesterday's action triggered such a point to start unravelling positions. In fact some were probably bought back as low as 5.5p and they will continue until such a point they have capitalised enough profit that allows comfort in maintaining a short level that fits with this somewhat binary trade. They have done very well.

Of course it is Levs, you assess the situation and facts and then speculate on an outcome. This creates the market on both sides. All I can see is relentless downward pressure, an interested suiter would not start buying on the open market for fear of putting a halt to the rather useful decline. They would want it as low as possible before applying the obligatory premium to any offer. There are some deep financial wounds on this one so the lofty expectations that were around in the last few years are somewhat dented.

Its either that or we are about to hear that our single well is not performing with the increased volumes. Somethings happening......the trading pattern indicates a leak. Either bad news is on the way or this has been set up for a low ball offer.

CEO and CFO gone. Income producing, low PE even at current BOPD, potentially lucrative producing asset, needs cash to exploit and relinquish handcuffs of bond/debt. Its now just a market cap of 120m.....worth the gamble now, particularly as it was once valued at over £1b

This is trading so very similar to Amerisur before the initial offer came in. Peel appearing on the bid side all of a sudden, again they did this with Amerisur. IMHO this is being orchestrated to get it on the cheap, with Amer it was circa 40% above market price which would give us circa 9p!!!!

This is priced according to uncertainty of the next announcement of operations. It’s unlikely to move upwards from where we are until the next Rns, or leak of, confirms stability at current volumes. The market has us at a price that anticipates a slow death, any further negative news on this one well and we will tank to a new low. It’s a confidence issue, we can make money with current fundamentals but we cannot afford further set backs during this ramp up phase, taking a step back from here on this one well will be brutally punished. I hope we have drawn a line in the sand.

Whilst I appreciate that they had substantial hedging at higher levels, much of it unused. I wonder how much hedging was done when oil was 20 dollars which will provide massive margin benefit in the coming years.

Maybe reduced offload because of oil price slump. Make room, hold some stock back in the hope poo rebalances in the next few weeks.

We can only presume that they have moved to circa 20k bopd as of Feb 1st otherwise we would have been notified as stated in previous RNS. I am actually reassured that they have not felt the need to confirm this to settle things after yesterday's mauling. If this has indeed happened, whilst they won't be happy with the sp, they will know that value will follow this operational success. The mc is far far to low for the cash flow being generated at 20k bond.

Well Buzzyboy, bet you wish you hadn't posted. I'm grateful though, it was well intended given the current situation. Simpler life in SM me thinks.

I wonder if that's the excess that the FPSO is unable to accommodate. Any ideas how much water the kit should be able to clean and dispose?

That's new information to me......how realiable is the source through your work. At 13k bopd that's 2% and at 20k just 1.3% which is well under what's been discussed.

Agreed, fantastic appointment and brings back the proven partnership withJM. I expect good news flow in 2020, upgrade in reserves Q1 whilst assessing and picking off the opportunities that are becoming available in the area as the majors leave. Plenty of scope to accelerate this from a 15m mcap.

Confidence is low which is why we see these knee jerk sell offs on such news. Huge changes have occurred in Q4, there is momentum and a clearer picture is coming. A reversal can happen very quickly as we have seen in the past.

I have 20m shares in this Company which hardly classifies me as a passive investor particularly just because I don't post that often. It's been a long wait for many but I think we are at the business end of that lifecycle. It could go tits up but I'm not about to cash my chips in due the recent decline, I think on balance it's worth seeing this one out IMHO.

Plenty STH have bought around 30p of late, nice rise last week sold into for some gain and now selling off to protect that gain. I don't think many LTH selling here.

Gutsy JW, bold move and short term reaction probably fair for those that wanted a quick buck. You wouldn't disregard that funding unless there was a significantly improved alternative that has traction. I'm ok with this. I will be tucking a few more away below the recent 0.3 raise.

Revaluation of reserves coming. 15 million mcap is too low, this has fallen to far of late. Value is being created by JM.

The sale of the Italian assets was expected and provides some cash for developments in 2020. The assets were merely an initial foothold for the planned bigger picture which was to develop in Asia. JM thinks big and has experience on a much larger scale than a 15 mcap company. I'm surprised at the recent SP decline to these levels once more, however, I feel it's short term. Director buy at 2.5 just over a month ago. Expect plenty of activity and news flow with this one.

It's about shareholder wealth creation and that's exactly what is occurring here at a reasonable clip. Short term holders today have sold because the exploratory didn't come in, but the main event did.....incredible. Admittedly, a very few can buy back in cheaper but if you are in no rush then todays mark down means nothing and IMHO an ask at 2.1 offers a cracking risk/reward opportunity. I thought as much at 2.35/2.4!