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Like I said, every reason to be optimistic. Hence why I'm invested.
The video uses words such as "estimated" and "are due to..".
My point being, this is why we're still at this price. My initial comment was in response to many posts "Why are we stuck at 10p, MM's etc etc".
Degsy - we still only have a letter of intent for the extended license.
Latest news was that "we're bringing TLP-103C into production". Still haven't had production.
Also stated "Djeno would require improvements to the topside infrastructure at Tilapia" Still haven't had updates as to how this will be solved.
Hopeful, yes. Set in stone.. not really. This is more likely why the price hasn't moved much.
So by that opinion, we're all just here on the hope that MM's and their games end up with the price going up? Nothing to do with markets or the Company itself?
Still waiting on news from the Company and nothing has yet been confirmed, hence the stalemate in price.
No doubt this will be seen as a "deramp". Still not been given a solid reason why the SP should have increased when we haven't actually produced yet. Hopefuly yes, but as yet, no.
Precisely. Being held down by the market. There's no big conspiracy.
Day traders and small investors seem to be selling constantly. Once the II's are in, there is less demand until there is factual news (or once something leaks....)
sales being posted today
Having an oil person in charge won't exactly change the fortunes of the company discovering oil flow rates. The team need a better communications dept. and MH can't do too much about false promises from prior management. Agreed though that the company has been built up over the past 8 months on the back of FM's communications, they're now literally hanging in there with TA and if this doesn't succeed the comapny will be worthless.
I bet the investors who helped raise the £8.5m at 12p are happy too ABURRRR
Agreed, but doesn't really give much away and a bit odd not to officially update TA through an RNS (not everyone has twitter). You can imagine the internal talks to marketing "look at the SP, squeeze something positive out asap"...
https://twitter.com/echoenergyplc/status/1096334677563097088
Bit of a "keep investors happy" tweet...
Eggonface... Am I still a deramper or was I just presenting the facts? So many overhyped posts from yourself on the back of "maybe scenarios". People are so deep in their investment to rise that they start to believe their own stories are facts.
Turns out that RNS' are full of just as much hype as these boards. Water hasn't magically appeared from nowhere so why was it so hyped up about oil in the first place?? "transformational" "game changer" "serious upside"..Unprofessional updates from Echo.
Were there any updates on the 4 month seismic?
Quote from FM in August 2018 - "We should have an update on that within a week with the intention of kicking off a 4-month seismic acquisition in November this year. That could lead to some serious upside.’
They expected $500m net pay on this. Can they fund the costing with no flow from Fraccion C?
JH - finally some sense on this board. Nothing confirmed yet and people expect a major rise. The price will fluctuate in the meantime with people not willing to wait and try their luck elsewhere.
IF 103 flows then we will have funds for 104. But, Djeno needs restructuring (per technical advice on the RNS). The licence extension is just a promise in writing so far. The latest RNS IMO was merely just a repeat of what we already knew, or maybe to provide people with what was said at the conference Monday evening.
It's good news and I agree the SP should see more activity but isn't the RNS basically a repeat of what we knew?
We knew from the RNS on 29-Jan that Djeno needed infracture changes before producing. We were also told that "the Company will now plug back TLP-103C to the Mengo", and also told about the licence extension.
Forgive me if I'm wrong, but i don't see anything new in this RNS. We still have no update on how they plan to change to Djeno infrastructure.
508k of sells within the last hour, all of which are on the bid. Not sure why these are "actually buys"?
I'm invetsed so not ignoring positives. I just don't understand the wording people use on here and the expectations they have.
I've seen across LSE people constantly ramping up a share, just for an RNS to be released shortly after saying complete opposite. If you have time to have a look back (use ECHO for example) a lot of profiles on here that ramp seem to be created just before a bad RNS is issued....Conspiracy?
Not sure I follow, Silerlight? 50p?
There are a lot of chunky sells on the board but seem to turn a blind eye to them and wonder why the price isn’t moving.
Of course there’s rampers. Either to attempt to bump their holding up or for their own self assurance they feel the need to let everyone know why they’re holding.
A quick read through your posts, Shalamar. Do you have "Chunky Buy :)" as a template post? Never seem to mention any chunky sells? Ramper
It isn't essentially de-risked though as if you quoted the whole of the RNS, it reads that we cannot access 104 (Djeno). They need to yet acquire new machinery (after receiving "technical advice") to access this horizon as the current rig constantly produced poor performance. We haven't had an update on how/when this rig will be replaced.
The licence extension has been confimed in writing and is already factored into the price.
Here's hoping! GL
Not sure what market you have been on to see these prices? We dropped to 10s beginning of 2019 on the back of the £6m placing. It's been held at this level for over a month.