Member Info for marineclark

You can tell when to hold when the price goes up and stays up. Sure you could take 30 percent profit now, and in a share that trades mostly on sentiment and highly riskly fundamentals I would have taken profit by now, but this is not one of those shares, and has a long way to go up. Would be a shame to sell and miss out on bigger profits to come. All IMO of course. DYOR.

Ahh.. made zilch on Char, then moved funds to JLP and now this is rocketing....

I did suggests a few posts ago to buy this at the bottom, and looks like my call was perfect... lot more action to come...

Price has rallied today Scored, may be best to wait a bit for it to settle or for a minor pullback.Still pretty close to its lows though.

Scored, good to hear you recovered your losses.

Back in Feb, I bought some at 84p, expecting a potential return to all time highs of 110p, but instead of going up, it skydived to 20p. My losses were small, as my stop losses kicked in several times on the way down.

There is nothing like strong and rising earnings to drive a share price higher. Some shares rise on sentiment alone, and which can change in blink, but the technicals here at last have change to bullish. Major sellers have gone, traders who bought in at 20p, have taken profit at 40p, causing a pullback to 30p, but a this has held and price has been steadily consolidating since, until the recent breakout. Expecting next move higher soon.

I'm more than happy with my holding here and don't mind holding it longer than my usual trades as its in my SIPP. Feel free to check out JLP. Its always good to not put all the eggs into one basket, and for diversifation, JLP is looking like a strong candidate for a multibagger, likw JSE.

GP, good luck here mate. Could have done with that 2 bagger, and would have been happy even with 30 percent profit like JOG, but the reaction here was totally baffling to say the least.

It's a blood bath here. When price barely moved higher on FO new day, my alarm bells started blaring and within minutes on open I had sold taking only a couple of percentage hit. However, the opportunity cost of being in here instead of JSE, cost me 50 percent profit - had a wanted a quick 2 bagger here than was going to stick it all into JSE, but that rally happened just too a bit too early. I don't see an imminent catalyst here so like JOG, I'm don't plan to trade this until a long while. Good luck to long term holders here who I'm sure will do well in the end.

Agreed. We actually had a breakout at 35p where it gapped up, then it brieftly touched the next resistance nearby at 40p, before a brief pullback and price is now consolidating at current levels ready for the next imminent move higher. Should slice through 40p with ease on the next rally. I bought at current levels.

Things have turned around since the debacle of a 9 months ago with unexpected placement, fibs about montarta restarts, etc... , when I was last in here. I just hope that history doesnt repeat itself. But sentiment here is definately feeling positive here.

You're right Rossannan. I misread that part. Still leaves 227 feet of upper zone net oil pay left to test.

Its a punt, sure, but the thicker net pay of the upper zones should have much less risk of sands than the thinner net pay.

The enteprise valuation here is now about £10 million. I would say failure is mostly priced in by now, so the downside risk certainly over the medium term should I hope be minimal.

I regret not buying in here at 28p but I thought I had some time before the move back up and I was in CHAR hoping for quick buck from the farmout which never materialised. Got out quick with barely a scratch within minutes of open when the price didnt react as expected .

Charts look good here. Gap up on the 4th. Short term moving averages bullish. Appears to be some resistance at 40p, but should easily push past this in no time. As Roxi pointed out, pattern emerging is a cup and handle formation. Right now, we appear to be in the "handle" part of that pattern . All is primed for a steady move higher. Excellent buying entry IMO, after a brief pullback in the last three days.

DYOR, but looking like stellar long term hold multibagger at current price.

"§ Over 290 feet of net oil pay encountered in the Jacobin well"

Just to put this in perspective, 290 feet is about the height of big ben - a crap load of oil, just need it flowing nice and good now.

If it does, my money is on a 2 bagger+ at current price. Price is postive so day, could actually be the first green day in 5 weeks. Admittely, I bought a little too early, but its never easy getting the perfect timing .

GL folks, and DYOR.

Oh dear...not quite the reaction I was expecting.

Head over to Char folks, farmout agreement RNS...

No point stressing about how the price is going to react.. what will be will be.

That said, expecting better reaction than JOG.

"Chariot will retain a 30% and 37.5% interest in Lixus and Rissana

respectively, with ONHYM maintaining a 25% stake in each licence"

Its a great deal, Chariot still retain a healthy chunk of the pie.

....

Price reached 100p on Jacobin discovery in August

From the RNS:

"§ Over 290 feet of net oil pay encountered in the Jacobin well, including 63

feet of net oil pay in the deeper exploration targets."

I presume that the 63 feet of net oil was the deep zone which was terminated due to sand.

That still leaves the upper zones, with 290 feet of net oil. Not being an expert, but the chances of sand problems in this zone must surely significantly less.

Not long to go now for results, but if the flow test is succesfully then this should easily double IMO. Worth a punt, I reckon. As bad news is probably mostly priced in.

DYOR.

There appears to be some nervousness before the test results is due on the upper cruise zones. With 20p worth in cash, I think any bad news is mostly priced in. Could see this doubling on good news however.

"Trinity Exploration & Production (TRIN.L, 57p, £22m) Testing of the Jacobin-1 well is now focussed on the discovered oil zones in the Lower Cruse 1 upper intervals. Testing of the Lower Cruse 3 is being terminated, as despite clearing the sand blockage, further sand production issues were still experienced. The upper two zones are well developed oil-bearing sandstone intervals with thicker net pay zones for testing and generally better developed than the deeper reservoir encountered at the LC 3 level. The Company expects to perforate the upper zones in the well by mid-December. Trinity Exploration & Production. "

Don't think we can assume that all Directors are millionaires..

As long as the main man Adonis P has 87.5 million shares, currenly worth 12 million, that plenty enough skin in the game for me, to know that the plan is about incresaing sharehoder value and not just about one's salary.

Kb, my apologies, not quite the first, the "first" in a while hehe.

Goonerpete,

For reference, JOG did double in 2 days on the first farmout news so there is a benchmark at least. In hindsight, the 2nd farmout's lack of peformance did made sense in that it wasnt going to generate the same amount of interest as the first, not to mention the negative North Sea sentiment holding it back.

Must admit, would be chuffed for some early pressies from Santa..

Got a good feeling here....