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Or perhaps he wants to drum up as much interest in Charlie-1 as possible to drive SP a lot higher and do a future raise at higher levels. Given that the well is targetting 7 intervals, some appraisal, the chances of being able to do so look good.

If there is a placing it will only be to raise the shortfall of A$3.25M @ 0.7p, so max downside risk is only 10% for a mere 3.9% dilution raising £1.7M. With closure of farm in, final permitting imminent and drilling just over 10 weeks away any dip will be short lived, a final chance to back up the truck.

I see no justifiable reason for the drop wither. Farmout due to close in next two weeks and final permits for drilling are also imminent.

At $5/BOE 31.2 MMBOE net recoverable gives a market cap of £122M, which is almost 2p per share. The fact the field is onshore should mean the oil and gas is even more valuable as development costs will be that much lower.

Base case in place figure for oil plus gas is 181.65 MMBOE which is 47.5% of the Wytch Farm figure of 382.3 MMBOE. Clearly this is a huge discovery particularly for onshore UK and will be extremely valuable. Using 35% RF for oil and 80% RF for gas gives a recoverable volume of 79.4 MMBOE gross, 31.2 MMBOE net to RBD. Excellent.

https://en.wikipedia.org/wiki/Wytch_Farm

MATD up more on presentation showing no more drilling for nearly 12 months having already rallied last week on telegraphing of said presentation. LOL

Significantly increased my position this morning. Not long until Q1 WN drilling. Huge onshore target will be worth $$$$$ and COS must now be exceptionally high. Should see huge inflows as drilling approaches. Looks like the calm before a very huge rerate. Reckon we'll see 2p+ soon enough. GLA

UJO up 18% and RBD essentially flat. LOL

Very odd indeed. Higher leverage than UJO on market cap to interest basis yet UJO up 15%.

Ramp into Tuesday's presentation. Big deal. Followed by a protracted sell off with sweet FA for ages except another funding.

They had the funds and rig in place to drill Wick and Colter, but they only have around £600K left now.

Great, but does BOIL have the cash to do anything at all with the licence when it gets it? Surely this will require significant further dillution?

If it hadn't been for them propping up the SP the last few weeks I think we'd be a lot lower already. Given the SP is on the verge of a technical breakdown, might be wiser to let the SP do its thing a bit before stocking up. Price will move higher when it's ready.

Nonsense. I expect to see 1.5p+ in run up to drill. The fact that a quality company like PMO has farmed in and is paying all drilling costs speaks volumes as to the quality of the drill on offer. The resources targeted are massive especially for a company as small as 88E and the number of stacked targets combined with the appraisal component makes for a higher COS. The herd have always loved this stock and with what's on offer I expect they'll be chomping at the bit for a seat at the table as spud approaches. GLALTH

just use an at best order by mistake? I see two sells just went through at 121.5p! Very odd.

Even more convinced now that we're about to get a UJO placing. Get that done and it should be full steam ahead.

I said ahead of a UJO placing, not on a UJO placing. Positive rumours regarding WN spike the SP in both UJO and RBD, and the increase in UJO SP makes it easier for UJO to get a placing away. As I understand it RBD has done its financing, but UJO hasn't done any since WN initial result and surely will need to do so ahead of the expanded WN operations in 2020 Q1. If I'm right I would expect a pullback in UJO to just above the placing price, whilst RBD should see little if any retrace, before both power ahead on CPR and WN drilling. Of course if CPR comes ahead of UJO placing then both may move a lot higher first. Thoughts?

While were waiting for any progress whatsoever on the oil and gas operations pehaps they could branch out into diarrhea remedies. They'd have a brand with real pedigree. 'Things passing through too fast? Try new Caspian Sunrise (TM). Guaranteed to block you back up.'

Even make Cadogan Petroleum look fast.

They really should name a geological epoch after Caspian Sunrise given the insane amount of time it takes them to do absolutely everything. Even the tea at Caspian Heights probably evaporates from the mugs before it touches anyone's lips. Absolutely appalling!