Member Info for moneyhawk

“President Biden is set to issue $1400 per person to Americans in direct payments as part of the latest US stimulus plan, and according to a Deutsche Bank survey of online brokerage users, they plan to put 37% of their cheques into betting on equities.“

https://www.standard.co.uk/business/ftse-set-to-gain-us-biden-covid-stimulus-cheques-stock-market-b924089.html

And what’s trending at the moment in searches?

In all the excitement, everyone seems to have missed the actual update in the speeding ticket response

We’re at 1,250’

https://clients3.weblink.com.au/pdf/88E/02353633.pdf

Just been reading up on this company thats been mentioned in some of the stuff about us over the weekend. e.g:

https://insiderfinancial.com/otc-stock-movers-btcs-cwrk-eeenf-mdmp/181143/
"For those that missed out on MDMP, EEENF has just as much potential and is priced at just $.015 a share"

The price movement is pretty staggering.
9 March 21 opended at $0.018
12 March 21 closed at £0.59, which an intraday high on 11 March at $0.94
https://finance.yahoo.com/quote/MDMP?p=MDMP

Thats possible newanda. Would explain the size of some of the trades. While there's lots of new interest, no one is really talking about buying large amounts. It looks more likely lots of people buying small amounts

I wonder what the t-line says we should do tomorrow?

9.25 Brom - It does differ to the shenanigans we saw at RMP a few years ago though, I'm not sure there is much the exchanges can do. The case of gamestop highlighted that USA regulators will not intervene where retail investors overvalue a company, so will AIM and ASX?

In the case of RMP, there were either leaks somewhere or there was a pump and dump crewe claiming to have inside info and who got lucky in some guesses, but either way it forced DW into making one or two announcements that he probably wouldn't have made otherwise.

In this case, there doesn't really seem to be much underhand, haven't seen anything making up updates from 'uncles', 'friends on the ground' etc. All the posts I've seen are mainly taking offical annoucements and information, and then interpreting it in a certain way. Is it the companies or exchanges role to tell people how they should interpret information? Stupidity and ignorance isn't an offence.

That’s misunderstanding of the nominee accounts is being repeated quite widely from the looks of it.

Another thing to watch out for is that some of the commentators are buying on OTC markets, and from what I can tell 88e shares are packaged up at a ratio of 10:1. So when those people are talking about $5, what they really mean is 50c. Current exchange rates that’s about 35-40p. A long way from £5! But others in the USA may be buying direct on lse or asx, possibly not understanding the differences.

£5? Anyone care to share the workings out that would make us worth £60B? Or is it based on the Tesla school of economics where production figures and profit don’t really matter anymore?

The thing is, if a statement is made on Monday about the SP movement and there’s no takeover activity to announce, DW can’t say there’s no reason, there is, we have a drill underway. He’ll have to say something along the lines of there is no fundamental change and drilling is proceeding as per previous announcements. That could just add fuel to the fire. It’s a tricky one.

It does seem more likely to me that yesterday’s jump was more likely due to this being tipped/hyped/pumped on Reddit than anything else. The rise in London yesterday really took off when the American markets opened, 2.30pm our time.

This isn’t a traditional share forum as we know it, facts, fundamentals, research, don’t have much meaning to many following the tips. It’s herd mentality at its best. A few weeks ago someone posted silver was undervalued and will go to $1000oz. The price jumped from $25oz to about $30oz in less than 2 days, and 88e is nothing compared to the size of the silver market.

There’s more being posted on Reddit than just that one board. That was created a few days ago. Have a look at pennystocks with 1.4m followers

Surely by now we’ve found all the patches of land on the north slope that don’t have commercial oil.

https://www.reddit.com/r/EEENF/

Some enlightened posts about 88e being made here, lol

But looks like we’re getting a following. Not sure this explains the huge volumes, but you never know. Look at the ridiculous rise GameStop had.

Absolutely, the sudden increase in volume and SP can't be ignored. Very unexpected given we're most likely a few weeks away from reaching the target depth and getting any meaningful results. Add to that, same thing happened in oz over night. And no rumours appear to be circulating that could explain it.

Only thing it really points to is that there are persons unknown wanting to buy a lot of shares.

Nice movement, but can't be a leak. Expected to take a week just for the first phase to reach 1,500' and install casing etc. Target depth is 6,000'.

No chance we've hit the oil yet. Must be something else going on

Could be connected to DW decision to leave, maybe a new major investor coming in on condition they get to pick a new management team? Just a thought, no substance. As Jiddy says, there are many possibilities.

Could be as simple as the price rose a little, people jumped in on FOMO, and it had a snowball effect

6.51 - Its not only been a 2 day delay. Origionally spud was planned for mid-late Feb. Delayed due to the regulatory changes and weather. And now not starting until yesterday probably means we're about 3-4 weeks behind the ideal schedule for drilling 2 wells instead of 1.

16.12 - There'll be quite a few warrants left outstanding. The annual report covering up to end June 2020 had 112m warrants. Haven't been keeping track of them, but don't think we're anywhere near that number yet. Might be not all of them will get exercised, and a couple of years left on most. But extra cash in the bank if they do get exercised.

The time line is set out in the last opps update. Roughly about 3 weeks from spud until we can expect to hear about wireline logging results. Then flow testing after that if results are good. Probable we're get news during the work program as the main stages are completed, it'd be out of character for DW not to give regular updates. But he is leaving. Personally I don't really think most of the updates DW gives during drills are necessary for complaince with the disclosure rules, so guess we'll see over the next few weeks what effect DW leaving has on the news flow. It is nice to have step by step coverage though, but probably doesn't signal any problems if we get less updates than usual.

Jonah, I think you're right.

As the saying goes, do your own research.

And when CB is talking at investor presentations, take it with a large pinch of salt if what he says hasn't/doesn't appear in an RNS.