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Lakshmi - OK I didn't give a time frame but I think it was fairly obvious what I was talking about. Cable was recently at 1.41 and it is now trading at the 1.35 handle i.e. a 4-5% drop which is significant. This is bullish for shares denominated in GBP whose earnings are in USD. You just couldn't resist one of your conceited posts could you?

I'm surprised it didn't open much higher. It's derisked now so I think the market cap is grossly undervalued given the fact the company is increasingly cashflow positive and it has access to cheap non-dilutive debt financing and a hedging facility. Also there's been a big increase in the oil price and the USD has significantly risen against GBP which also should make NTOG worth more.

Excellent news. The share price should easily reach a new 52-week high at over 6p on the back of that. The company is much much stronger now than when it last hit 6p

52-week high is 5.95p and I'm very confident we'll break above that. N TOG has never been in better shape. The cash is going to be rolling in with such a strong oil price :-))

Yup WTI now over $70/barrel which puts NTOG in a very strong position. Amazing you can still pick shares up at sub 5p. It's primed to go much higher!

I can't see many shareholders would be willing to sell at the current low share price. I think it's primed for a big move higher given the robust cash flow generation and the forthcoming drills.

Good to see the SP finally start to move. The back to back wells are relatively low risk and if they go to plan I reckon the SP will be in double figures.

I think it's commendable that you take the time to share your knowledge and wouldn't hesitate to vouch for your integrity. I've always enjoyed reading your posts/articles/tweets. BTW I don't have a position here long or short.

I value Garyn's opinion more than 99% of posters on LSE. He's well worth listening to whether you agree or disagree.

Interesting article on Falanx here https://total-market-solutions.com/2018/05/01/falanx/

It's looking much better now but it's still early days and I'm expecting a test of the previous high if drilling results come in as expected.

Just had a nice top up below the placing price :-) I don't think we'll be down here long so I wanted to grab some whilst they're mega cheap

NTOG is sitting on a very valuable asset. The asset was bought when the oil price was on its knees. If NTOG can reach agreement with the operator the 50% interest could be worth more than NTOG's current market cap. Matt has a very good record of winning court cases - just look back through the RNSs.

Only a matter of time now before the sp is trading back in the 20s. We know directors have been over in Georgia and they have arranged a presentation on 15 May so I'm pretty sure we'll get an RNS soon.

Thanks bud, that's a shame. Also the cash here won't last long as the directors are greedy. Take a look at their salaries in the Annual Report. They got a large sum from Cephalon a while ago and it was supposed to fund a phase III trial but they burnt through it before the trial started.

Jimzi - do you know if IG will accept short positions on this one via Spreadbet or CFD. I was a shareholder for years with an average of 38p and sold at around 120p. Nice profit but we'll off the top. I had a hunch that the trial wouldn't be successful as there were many red flags but I knew there'd be a spike before the readout.

No short position yet but I may take one if the price reaches 50p. However, I'm not sure whether my broker will allow me to go short

It's interesting how the day traders have latched onto IMM. The big drop to 20p was justified - it's a busted flush now following the very disappointing Lupuzor trial results. The institutions are selling for good reason.

I wonder if Mat will be tempted to hedge some production at the current oil price? This would also free up more funds that could be reinvested in NTOG's assets to increase growth in production/cashflow

Thanks PlayaBlanca - I've been wanting to buy some for a while and kept some funds free until the warrants expired. The brakes are definitely off now and this is just the start of the re-rate