Member Info for RonnieB

Market cap only £300k.

2p today, shorts closing?

Europa understands that the various government approvers are now satisfied with the ODI application and expects to receive this approval in the coming weeks.

Egdon had 30% of Wressle and Heyco paid £26.6m for Egdon a few years back.

RBD could be looking 2-3 years down the line. Change of government and policy. Fracking allowed, these onshore assets would be worth a mint.

Remember Egdon 10 bagged in 2020.

What asset is that?

Should see 2p today.

NCYT on the move the past few days, possible reason the Hantvirus. I wonder if it will rub off here?

"The Facility is designed to minimise dilution and protect shareholder value". SP has collapsed more than 1/3 since yesterday morning! Falling SP= larger slice of the pie for Zeus= greater dilution for existing holders.

AEG and IQE both done placings at substantial discounts and both took a hammering. Hopefully we can recover before end of week. I feel for the chaps yesterday buying first thing at 4.5p they have taken a big hit.

No it is not, most definitely not. UKOG is the classic example; take a look at RNS releases over the past 8 years; wells drilled with no commercial flows. Raise after raise after raise and on it goes year after year. Funny thing is UKOG have a greater MCap than EME lol.

If you take a look there are lots of oil "shell" companies with zero oil production for years all priced market cap £2-4m in value with low cash reserves. EME now valued just over £1m with 600k in reserves. The 8.5% Mako surely adds several million net asset value.

Even if the DST had been positive, it all depends on flow tests and reserves. Lets see what happens with Mako, all can change with positive rns.

Probably 2-3 bagger short term; 10 bag over the year; revenue from well and additional wells to come. Don't forget the market cap is extremely low.

If it is declared commercial alongside Mako gas and current market cap £3m won't last long x 10 at least.

Remember the PPP rise last summer from 0.005p to over 10p; 20 bagger in a few weeks.

Market Cap too cheap, hence a 10 bagger. Look at the other oilers and compare market caps. The 6m oil column is a red herring, it either flows commercial or not.

Area x depth = reservoir volume. Seen before news on significant column length oil shows and when tested would not flow. The flow and rate are now the next important stages.

We are at a very low base here £3-4M, one would expect significant rise in SP.

Friday is always the day to release bad news, either the data is still being analysed or not yet known.