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I’m not worried, I’m actually building my stake each month so quite happy to be butlying at these prices. I had to liquidate my portolio a month ago for the deposit on a new house but have now started to re-build it.
Djeno reserve will not be confirmed without further information. To get the information they will need a rig on site and as they have not been producing anything significant there is no way they can afford a rig without a fundraiser. Payment from SNPC are great but are being used to pay overheads so probably less cash than you think to hand. I fear for all holder that this will get worse before it improves.
PRemier Shareholders shouls be grateful th co is well here’s. This will be great opp to get in cheap and ride to 80-90, at the min this is a traders share so best to take advantage. Another year or so when debt is down and Tolmount in production can be a good investment
PMO is an option on oil prices in its current state , I like the company but best avoided whilst oil prices are falling, still got further to fall in my view.
I’ve also invested another £1,100 this lunchtime. Oil is very reluctant to go below $70 and I feel that this is more likely to surprise on upside than downside given what we know.
You can’t value the company on sale price, what about costs and tax? The company is now overpriced for what is currently known. I suspect a re-trace to below 0.3p over the coming weeks
Isn’t the issue with balconies that the flow test wasn’t long enough to prove sustainable rates? I should feel more confident given what we know but previous management have made such a mess of things over a period of time that I’m not so sure.
I was hear earlier in the year at about 10p but sold at 8.5p as everything seemed to be taking too long and I was concerned. Things do now seem to be progressing smoother and new management seem relatively efficient. The water isolation doe not feel it should be an issue and I was wondering what people considered view of value is on success ful flow?
Surly the Chinese will now up their stake and ride on the sheikhs coat tails, they don’t need to do anything just take advantage of his contacts.
Price was nowhere near 16-17 at 4:30 yesterday, more like 14-15 upto just before close so I would say the 51knis definitely a buy.
It’s what he can do for the company, not the value of the initial investment.
That will make the price go ballistic :)
Side track will cost a lot more you are mobilising whole rig and crew and day rates are significantly higher as well as much longer time. We are only looking to frack a small zone so should be over and done with on a few days.
Going after djeno by sidetracking 103 would in my view be a disaster. Production delayed, another fundraise at low price to get rig. They need to get production up and running, cash coming in and get share of field and new licence sorted before going after djeno given the cost.
The full field development plan has I believe up to 6 djeno producing wells so the 164 years that you give comes down to about 32 years at potential production. It could be life changing if it comes in!
There should be a good lift in reserves in CPR by talk of 300m is fanciful at this stage. They need to hit main djeno and test to prove this number.
Are we confident cpr still coming this month. I would have thought they would need flow results to finalise?