Majority of the week has seen countless 250K buys recorded as sells - look when the spread settles down and their order fills watch the SP. Expecting another holdings RNS tonight or Monday!
Higher highs - should be interesting to see what is mentioned by Wentworth later today. The area is prolific so just a case of building/ adding to the position here.
Quite a few misrecorded - MMs using the spread. Should see another holdings RNS soon - Crystal Amber again or perhaps someone else closing any shorts. Brent now above $68!
Buys filling at 2.466 - need the move upwards to break through 2.7p and then we should be back on course for 5p. Does seem 2 steps forward 3 steps back of late, but as I have re-iterated I believe their is a buyer in the background accumulating.
Cash generation is not and issue - would like to hear what they are doing with well 7. Pumps working there may be a case of getting that producing and controlling the water cut, even if it was say only 3000 barrels a day.
Forgot to add - looking for a cross above 10.6p then 12.6p and then we can say the SP is really bullish. News Tim, that's what we are all anticipating.
I believe a fair valuations is 30p+, however as Nolupus has stated that it is where it is, but that could all change on a single RNS. That could be either on updtate from Ureka, or P3 trials Avion are leading on.
I would want more than 40p and with trials progressing and peptide research being undertaken by Ureka I would say a positive update on that front will get things moving. Expecting this to move up today.....so a case of adding and holding for me.
So we have a 1m plus buy at 0.727 - just waiting for the MMs to adjust the offer price to 0.75 and we should get a true reflection of the buys. Still time to get some at time to get them sub 0.8p.
Liking the whole both wells up and running - maybe alternate prodction from both or heaven forbit they may switch well 7 on. Like I said a week ago we will get a holdings RNS which landed and now we have confirmation of lifting and cash balance, which as predicted is not too shabby at 127m. Now will oil prices having risen significantly over this period expect more cash per barrel.