This recently spudded second well is half a kilometer away from the one currently producing 100 barrels a day at minimum pumping rates. Should it find oil from the same formation at the new site, we can safely assume that the potential amount of recoverable oil in this area is going to be significant. The commitment to further siesmic testing would suggest that they do not yet know where the boundary of this discovery begins or ends. Still something of a gamble, but the odds are getting better.....Good Luck.
28th of dec seems to have had some significance...????
Sudden dip in the sp at the last hour....? Any guesses?
Thanks for the comments, I hope that you are right of course but whatever happened to the steaming out project for instance? This is just another example of this companys 'grey areas' along with the Monteray gas find that has also 'gone quiet'. The steam has been on for six months as far as we have been told surely they have some idea about its success or failure by now? They are supposed to be drilling more wells into this area to at least triple the output, and if the steaming out helps with the oils viscosity then who knows at what rate it will rise to the surface? It can only go two ways of course....an inevitable decline or a meteoric rise. If we are to believe the bits of news we have been given so far then it would seem that they can only move forward. Do we believe them?
As usual we are waiting for news, and the sp is on the floor. The last news said that the oil find at Arcadia was 'fair to good'. So why is it taking so long to get some realistic evaluations of this discovery onto the table? It isn't as if they are still looking for the stuff, its more to do with how much or how little. Or is it to do with local politics, and Kappa? Any effort to get an update of any sort is futile. My own thoughts are that they know exactly how much oil is there by now, but the politics involved are not straight forward. Assuming that there is a lot of oil there, then why don't they say so? Assuming there is not much commercial oil there........well maybe they want to sell of their stock before we do?
Will give it a go...cheers
Has their website crashed? If you click on their logo on this page it takes you nowhere.
Thanks for the comment, glad you managed to grab some profit. Something is driving this lot north but no one seems to know what that might be. Interesting note about the undeclared larger buys, the MM's are certainly keeping their cards close to their chests. Good luck.
Top of the risers again at the minit, will we see 28p again before close of play, and why is it so difficult to trade this stock?
Don't want to give this the kiss of death, but it will be interesting to see what the sp is after the current profit taking spree. My own opinion for what it is worth is that it will continue to trek north. Good luck.
Some hefty ppm indications amoungst the evaluated samples. The whole area is basically uranium positive, this kid has potential.....
Just a thought on this mornings sp fall and rise. Most of us are waiting for the news about the declared prospects which look really promising. Maybe the MM's are trying to panic or trigger a few sells?
is this co delisting or not ?
any bets on friday close of play for the update?
The results of the latest exploratory drill cores are being evaluated at this time. The broad general concensus of opinion from the 'lads' on the site is that they have struck significant evidence of uranium, and once it has been evaluated the extent of the find can be acuratly assesed. In mho it can only be an improvement on the 'maybe we have uranium' to the 'yes we do have some commercial amounts of uranium' and the sp will move rapidly north....Good luck.
This is as low as it gets, the smart money is pileing in as we speak.
URA could really start to fly once the results are quantified.Good luck.
URA...strong demand on the speculation of good results tomorrow.
Even my sparrow brain on the simplest of calculations puts this latest discovery at somewhere around 60p a share. I do have a load of these shares and I am willing them on of course, but hey...lokk at the figures, they are speaking VOLUMES....good luck.
Still going in the right direction as we wait for the official estimates of the amount, and quality of the new discovery. Not so good at maths as we all know but even my simple gestimates put the sp at the moment as 'undervalued'. It just has to be 'Top up time' Good Luck.