Member Info for qwertyqwer25

When a share price is depressed the best option is a share buyback which is my strong preference here. I'm sure the major shareholders will also push for that. If they can get share count down to 200m then when the next asset sale comes in we could be sitting at a share price of £1+

Can't even buy £1k. Fill or kill submitted but its a drop to mug those who are in for a trade . Details of those who got mugged are below in the chat.

but then a recession will come and the FTSE 100 company will drop 50%. Better to just keep all your money under your pillow

Unfortunately this is not true as they had a commitment to drill A3 as part of the lisence. If they fail to drill A3 this year then they could lose the entire license including serenity. There is close to 0 chance A3 will not be drilled this year.

It’s sad to hear of this duster. That’s why I sold out as the SP response to Heron discovery was shocking so I can only imagine the severe negative reaction to the SP today. Gazelle is a higher CoS so hope that comes in. Drilling seems to be progressing on target which is a positive. I wonder what they will pick as the 4th well. GL to those still in but Gazelle really needs to strike oil.

I don’t know where these other supplies come from. Maybe I’m wrong and you can’t turn on extra supplies so easily! However the question I would ask is how with the change in China rebar standards, and their implementation a few months ago, are V prices sitting so low? The rebar standards will lead to a substantial increase in V demand yet price has not reacted. Maybe companies are still working down through excess stockpiles built up from last year?

It seems the V price has found a new normal lower than I expected. Still think we should see some upside into year end but I think this company growth is now skewed much more to the VRFB industry with the mining business likely to contribute less to the overall valuation than I had expected. Not an issue as I think the battery side is where far more growth comes from especially when V prices are low! Just means it will take longer to reach that £1 party we have all been waiting for. I think we all will have learnt a lot about the V supply side over the last year and the fact that other supply can be turned on reasonably quickly when required if prices rise too high. I am still surprised the high inventories of V in China steel mills has not been used up yet spurring improved demand for V. I’m not read this BB in detail over the last month so anyone have updates on the situation?

Yep thats what i'm waiting to see. If so i think the risk to A3 would be large depending on the extent of the vertical error. I'm still surprised that even with the data from the original discovery well they were not able to accurately map the seismics. They also have the other fields around them for data calibration so for me the hope is the lateral was the issue rather than the vertical. Again im no expert so just my thoughts

The sweet spot cannot be right at the edge i agree. It was about 200m from the edge where they drilled. They found no sands there so clearly the sweet spot is further North by at least 200m and likely to be a smaller sweet spot.

That would result in an increase in share count and the BoD would have to RNS that. Secondly why would the BoD want to let them out easily like that. Thirdly if the BoD refuse to let them relinquish warrants to cover shorts it means they need to buy shares back which will help SP which the BoD will prefer. And finally any short positions would be very small if any otherwise they would need to be declared but i cant remember what the % limit is for that.

Oh i think they were drilling the sweet spot for sure but it also happened to be close to the edge. Turns out the sweet spot itsnot so sweet and is not quite where they expected it to be. As for the junior note discussion I3E must get Phase 1 to production to pay that off asap as well as the senior debt. If A3 and S1 are not successful the company is essentially worth very little as after paying off junior and senior debt there will be very little left for shareholders. In that case i would expect none of the warrants to actually to be converted as i doubt the share price would ever rise to 40p+ again. Everything depends on success on or both the next drills so the company actually has something to build upon. I am waiting on the next communication from the company on what the testing means for their seismic model. If there is any reasonable impact i will likely sell out. If its a local issue to do with the channel being so narrow in the area then i'll be less concerned overall.

Nice to see blue. Of course it happens after i have sold out (see previous post) but i'm still following this for the drills. Really hope Red Deer strikes oil next week.

Potential for LO discretionary clients to have to sold to each other too explaining the high volume but not so big drop in holdings.

I sold out today as i have I'm not convinced with the SP action and if the next well is a duster the reaction will be very poor regardless of the testing potential of Heron. GLA and i hope you all do very well here.

Yes i think around the 18th for A3 spud. All those saying the senior debt provider forced them to place the drill at the boundary are talking rubbish. It was placed there as the seismic suggested it was the area with highest net pay albeit it being very close to the boundary. Large volume this morning so the II's hopefully selling out quickly partly to derisk and possibly due to the market cap having dropped below a certain level.

There is still potential for £2+ a share here if A3 and S1 come out on target. Let’s see how the next drill goes

Depends if the II sellers are done offloading. Drop is overdone but that’s normal on AIM. I suspect a slow rise into the next drill and hopefully success there can get the SP moving again. Upside is still significant and key take for me is the next two drills are not anywhere near the boundary so we won’t miss the captain sands. Just hope they are oil bearing with decent thickness. The major upside for I3E was always the next two drills. The recent drill has proved the expected recoverable reserves in the local area are less than the expected 8m but not zero. Still keeps Phase 1 commercial

Good news on potential oil strike. Re-rate when proven commercial. Obviously some people are constantly trying to deramp as can be seen with historical posts. Report them or filter them

Fully diluted the current share price would relate to a £80m market cap so we have indeed seen a good rise in the company valuation. The enormous dilution will however pay off the junior debt. Constant selling by the II's holding the price back for now.

Anyone want to call an emergency general meeting for this company with me? I’m proposing a name change to Petroyoyo....