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If there was only one tanker today this is not good at all. I seriously hope they haven't actually duped unsuspecting investors by causing a huge pump & dump to allow the recent placees out at a profit. With the volume hitting over half the company Mcap over 3 days they along wiht others could easily have shifted their whole stock of shares.
If they come out with a bad RNS now then the FCA should investigate the feckers.
Seems to have slowed down quite alot this afternoon. Needs to close above 0.38p to have any chance of resuming the rise. If it closes at less than 36p then all bets are off and we are looking at a test of 0.29p tomorrow.
From the tanker sightings we can see that It's fairly obvious that the flowrate has increased hence why the sp is shooting up. The share was way oversold due to fear of failure. Now that risk appears to be reducing and hopefully an RNS will show a huge improvement in flowrate after the recent re-perforations.
It would be amazing if the incresaed rate was just from the Portland and the Kimmeridge is still to be added to the equation.
A massive re-rate is on the cards if flowrates exceed 1000bopd.
Most likely because of increased output from HH judging by the 4 tankers we saw yesterday. Some people in the know probably bought big once they saw the flowrate and triggered a rise. Any other reason would normally have to be reported according to AIM rules since they hit 61% rise yesterday.
People may be taking profit but the big prize will come to those who hold. Mor etanker sightings will only re-enforce the positivity.
Well if it was just re-rating then the sighting of 4 tankers per day is gonna really set things on fire. Many were sitting on the fence because of the uncertainty but more tankers is hugely encouraging.
https://twitter.com/WealdOilers?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
No wonder the sp is going ballistic today. They appear to be getting at least 800bopd now.
Due to the shares in issue being alot higher than last year this will not get to 10p so lower your target. 10p would mean an MCAP of £1.1Billion. However, I think it could get to 5p if they managed to get a flow rate of 3000 bopd.
You'd think the investors who took part in the recent placing at 0.2p would have undertaken due diligence before parting with their cash. Unlikely to go down too much unless they sell at a loss. Short term we are expecting some good news from the re-perforation exercise. More tankers rolling out will be an indicator.