Member Info for nhawan

The placing was at 20% discount when the agreement was made. I assume it wasn't agreed in the one day when the sp hit 16p.

The placing was only 22m shares which is not a huge amount. That could be cleared on a day or two of trading. The anticipation of gaming changing news is what's driving this. 20p+ is likely when the testing begins.

Apparently a generator was delivered to Brockham site a couple of days ago.

https://twitter.com/WealdOilers/status/1060170295816916999

Looks like people have been watching the site but only posting news after the sp bottomed out.

The volume traded indicates that the sellers are drying up and people are happy to take a long position in anticipation of flow testing. I reckon next week will be very interesting. They can't take more than 3-4 weeks to setup a flow test.

This was 15P+ just last week before the placing rumour. Now it should test 16.5p again very soon.

about to move next leg up i reckon. Difficult to buy.

They are getting ready for the next push up tomorrow. 14p test coming up I reckon.

The RNS said production will be before xmas so I would think they will test various flow and pressure rates before the full on production commences.

That's what happens why you go to NT. The brokers are crooks.

Certainly a test of 16.5p coming this week. The site preparation is in full swing so no reason to not expect flow testing to commence in next couple of weeks.

Funny how the MM's dropped the sp yesterday into close to panic many pi's. I bet some put sell orders on in the evening or before open which were mopped up before the rise today.

Classic treeshakes and manipulation on the back of a piddly 2m placing.

The current rise and falls are due to traders getting in and out for a quick buck. The sp will make a big move up when we get more site info. If perforations are being done then flow testing will be imminent.

There was a gap at 12p to 13p that could be filled soon. Looking good for a decent move up today.

I'm pretty sur ethe placing deal was done a few weeks back before the recent rise. There is no way of knowing where the sp will be in 2 weeks time but if activity at the site indicates start of testing then what?
The sp is not controlled by the company but by demand. Right now some are obviously betting that it will go down short term but how long will they want to risk being out? A reversal can happen at any time.

This has the hallmarks for a 12p finish, They tried their best to get it below 11p but support is too strong there.
I would not rule out 15p+ by end of week as we see more activity on site.

The MM's are relying on pi's and traders who are selling up in the hope of a 9p re-rentry. It's very easy to sell a huge amount right now but difficult to buy even £10K worth. They are effectively relieving pi's of their shares.

Expect a bounce very soon once they have exhuasted the weak sellers.

The placing price was agreed before the recent rise to 16p so not the companies fault if pi's were taking positions after the mobilisation of equipment to the site.
Those who bought in the last 2 weeks obvious haven't held for long so cannot blame anyone. tThose who were holding for more than 2 weeks would have got a price similar or less than the placing price.

I managed to get some more at 11p. Very difficult to buy at this price.

I'm not sure who is even selling right now apart from some shorters or traders hoping to get in lower. The placing is done so the chances of further declines is low considering flow testing could start by next week.
The RNS states production is due to start before end of the year which means the will have to flow test it and stabilise it first. I expect testing to start within 2 weeks. It doesn't take a long time to setup a well.

22m is a small amount which can be cleared in one trading session hence why the sp didn't drop to the placing price. Now that it's done and dusted I expect the sp to recover over the coming days. Who would risk being out as the well testing is about to begin.