Member Info for rsproson

Still no dividend reinstatement?

Honestly hope this rns smashes it out the park. Not for me but for everyone invested that has ignored the noise and the constant dribble both on lse but mostly twitter.

I've never seen a company test a duster for this length of time. That includes Reabold's history and they are majority shareholders here.

We're very much at the speculative stage right now. We don't need the gold out of the ground. We just need confirmation that it is there. Look at GGP - they're past the speculative stage and have had a massive re-rate. They are at the next stage which takes longer and needs the institutions to fund the full production costs etc. It's a longer game once you get to that point and it could take years. All relevant though, higher risk, higher reward...

Only stalled from the sense that they can't start production. They are still making moves behind the scenes putting everything in place for area expansion. They have a hard working team and the only hold up has been due to COVID. the recommendation is for approval. I see this price as a steal and have been building a position. This will surprise the masses.

13.30 paid

Ticking up now. Bit of a mad selloff but gave a good chance to buy in lower. 30-40p target when drilling commences?

They can't comment on the well. The same reason UJO haven't updated shareholders. They are working through the EWT and busy on site. We just have to wait for the results.

Christ we are up over 5% - almost spat out my cornflakes!

Mad, news to confirm the delay was just due to covid and the selling continues. Making an even better entry point. Happy to accumulate down here for EIA approval next month!

That's not bad considering this is more about finding out what is down there and where is best for a horizontal well. Also it's not uncommon for the pump to be removed once the flow gets initiated.

Video showing a pump on the well. Certainly something worth pumping out anyway. https://twitter.com/Brobberspam1/status/1407291396076281858

Reassuring RNS and a ridiculously low entry point.
"The anticipated conclusion of the EIA process and permitting, leading to the grant of a mining licence is a considerable milestone for the Company and we look forward to achieving this objective and adding value very quickly thereafter."

Sometimes they let you know flow testing has started such as - we got oil to surface or flared some gas. Other times they let the market wait. Seen it all so who knows. On a positive we have seen the flare stack doing something so at least we know they have managed to lift something for starters...

They don't burn oil or condensate. There was a rumour of not expecting condensate at A2 which showed the black smoke coming out of the stack and apparently that was why the test stopped - well that and the fact they found oil and the test was just designed for gas. There will be a separator that will separate the oil from gas now that they know what to expect. In testing, the gas is normally incinerated and the flow measured. Oil/condensate - either is good.

Site looks busy now though, definitely getting something going on.

Just realised the flare stack they have at west newton is one of these: http://aereon.com/enclosed-combustion-systems/ultra-low-emissions-systems/certified-ultra-low-emissions-burner-ceb

They make no smoke. Not sure if we will get heat haze from this either. So much less obvious if/when anything flows. Likely we won't have any idea...

Anyway, just thought I would share.

Perforation complete? https://twitter.com/BrokermanDaniel/status/1401882714538713090 Can't be long until we see the flare stack heat haze ;)

Market cap is just 15m. That's pretty damn small for the market they are tapping into...

Can't be much longer now until oil starts to flow. Surely. Been a long wait. Nice to see the price is fairly resilient considering the wider markets lately. Onwards and upwards. Target is still 3p+ if we are to go by any of rumours.

I have bought today - 13p! Mad. Anyway, happy for it to be quiet and cheap for news to land. Once this approval (finally) comes through we will all be laughing, or crying if you stayed on the side-lines.

Good comparison and shows where this could go. I still think we just need the go ahead in writing and anyone on the side lines will be left standing.