Member Info for ramerci73

The fact that the news on Morocco was revealed through media leaks and not through a RNS suggests that the management team are incapable. This is a sure sign that management simply have not got their fingers on the pulse.....Very poor. Very, very poor indeed.

http://af.reuters.com/article/moroccoNews/idAFL6N0WI31G20150316

I agree, we have had a very positive run on success over the last two years. 83% of our wells have had positive results. But it is really the decline in commodity prices that has brought Share price down. I think that abandoning the well following attempts to free the drill head is the best option. No point in throwing good money after bad. Still I think it is a very ambitious and positive move to continue other drilling projects. It is a very progressive view and if we get more positive results should be very good for value and Share Price once prices improve.

I wouldn't be expecting news from the drill this week. It was to be a six week drill so adding on a few days rather than subtracting them. Same for oil drills, eight weeks usually becomes ten weeks and so on. Exploration companies tend to underestimate drill times in my experience. I am hopeful though of a find whether it is big or small. I would also like to have more information on the last gas find. How big is that??? We still have not had confirmation. Me thinks that management are getting their ducks lined up in a row for a few positive RNS's. I hope so anyway.

Share price bouncing up and down between 11.8p and 12.88p now for weeks. Cant break the 12.88p mark. Very disappointing.....

1000000 shares bought in a single transaction late today

I am surprised that SP is not up a lot more on the foot of this news.

Considering the recent and continuing rise in oil prices, one would reasonably expect that COP share price would track the oil price trend upwards. Therefore it is surprising that today the COP share price is acting counter to oil price movement. It would appear an unreasonable time to sell COP shares. So why the selling spree?

We should have results from gas find soon. I hope it is as big as they suspected it might be.

I see a revised figure for number of dead since Friday. Total now stands at 18 dead. It appears that Egypt is now a police state.

So far as I can see there is only minor unrest in Egypt with a few protests. Unfortunately there have been four confirmed deaths since last Friday. This week marks the fourth anniversary of the attempted revolution and Egypt is in a state of lock-down. Many of the major meeting points have been closed off and mass gatherings have been quietly suppressed for the most part. So on a scale of one-to-ten the unrest is at one in terms of Egypt's recent history. Here is the only link I could find to relevant news relating Egypt to unrest at the moment: http://news.sky.com/story/1414616/egypt-whats-changed-since-the-uprising

May he rest in peace. Saudi King is dead.

Oil prices are unlikely to fall further after a plunge of nearly 60% since June, Iraqi Oil Minister Adel Abdul Mahdi said today. "Our estimate is that the prices have reached the bottom. It is very difficult to drop lower than this," Abdul Mahdi told a conference in Kuwait. "We do not find any real justification for the big and persistent drop in oil prices," the Iraqi minister said. "A number of factors will work to correct oil prices upward," he added. Oil rebounded in Asia today as traders bought the commodity at cheaper prices following a slide to near six-year lows, analysts said.

The last two posts are actually very clinical in terms of quality of of content. Every trader knows that oil is at an uneconomic level for the Saudi's as things stand. I mean that in terms of cash generated per volume of sale. The Saudi's cliam tha they can produce oiol at $22 per barrel but research shows that this figure is very historical and is outdated by a margin of two.

Today saw sharp upturns in the price of both oil and gas and that is a good thing. But you really have to look at the technical data before you jump to any conclusions. I suspect tomorrow will be more positive in terms of the amount of "blue" on the board, but I wouldn't expect the SP to rise at the same rate as the market price of oil and gas. Indeed, I suspect that it might act as a catalyst for some SP improvement, but SP won't be hugely affected by a momentary gain. The market will dictate the direction of SP movement. When oil/gas prices stabilise then investors will quickly see the value in energy/exploration companies again. Some E/E companies have dropped more than half their value since the start of the oil price fall. The market will see this as a coiled spring. once it meets the point of most resistance it will momentarily pause (figuratively speaking) and then spring back upwards. I hope that we have met the point of most resistance. Although I suspect that part of the reason for the sudden rise in oil/gas is more to do with the imminent expiration of options than anything else. But I don't really know, I am guessing. A good day anyway for a change. So at least at the end of the day the prices are going in the direction we as investors would like to see them going, lets hope that the trend is reflected in SP tomorrow.

The reason Dragon oil made a bid to buy Petroceltic last October was due to the fact that Petroceltic had previously found an "elephant" gas field in Algeria. If our "Significant" finding does turn out to be "very significant" or indeed Elephantine, then I suspect that many large companies will turn attention to our little company. And if that happens then I think that our share price will at least double (considering the understated nature of our other assets) and possibly triple in the short term. If we stave off a takeover then I see us doing even better as an independent company over the long term as we have considerable reserves and our management have secured enough cash and licenses for us to trade and explore for some time to come. After all three out of three isn’t a bad result. I know another exploration company with a far lower success ratio that received a takeover offer last October.

Oh sorry, no offence meant. I have automatic correction on my device so I am not as good as I appear. The inconsistencies I was talking about relate to the movement of share price and the belief that mm's have anything to do with stability. If the share price is floating then a proportionate amount of shares are being bought as well as sold and therefore roughly the same number of shares in free float. Then when positive news arrives the effect that you talk about is moderated. However, should we soon receive an RNS stating that one of the main holders has increased their holding then that would certainly be a positive statement and depending on who it is, could have transformatory effect on SP. The reason being that stated by you; fewer shares available for any would be investors. Secondly, the market waits for no-one and once there is stability/improvement in the prevailing conditions SP will improve. It's that simple unless one of the bigger fish want to buy us out, in which case that company has to secure enough shares to make a takeover feasible. SP also goes up in this case, usually.

Technically you are correct but I think there are one or two inconsistencies in your explanation. Not a bad try though. I still make a few mistakes from time to time. By the way, I take it you are also not a native English speaker (I am German) from the grammatical structure of your sentences every now and then. I only noticed that earlier and meant to ask you about it. That makes your contribution here even more impressive

That is an excellent summation of current position. Nail on the head.

No the £60K buy was a mistake so it was subtracted then the trade that was supposed to happen (two separate trades for £13K and £52K respectively) was registered. That accounts for the £65k buy, 13 + 52 = 65, that's all. It is a significant buy though and to me represents a positive approach by some investor.