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Yes Gallini that’s correct but earlier there was speculation that Renegade might have been the persistent rounded seller but this proves it wasn’t Renegade

Hi Fadec - sorry can’t access the link just now but in a 72 sq miles area there are 4x 36 sq mile areas not 2. It’s the same principle if you used a ruler to draw a 2 inch square and then a 4 inch square. You can fit 4 x 2 inch sq in 1 x 4 inch sq. I will check out your link later

At the bottom of the RNS it confirms Renegade still hold all their shares, there was speculation that they were the seller but not so

Hi Fadec - if you are saying a township is 36 sq miles then 72 sq miles would equal 4 townships not 2.

I don’t understand why VSA state the recent upturn in the price of WTI has only ‘modestly’ helped the company. From the figures in the annual report we can actually see what the company receives at various levels. The $50 plus to $60 mark makes little difference due to the SPT tax formula but in recent months we have been nowhere near $60. There is no real point speculating on future oil prices as we know it’s a volatile commodity and nobody, not even so called experts have a clue. At today $73 level I think LK and the CFO will be very happy. Long term sustainable production at Goudron is key to financing the drilling of SWP in 2019. Group production is estimated at between 900-1600 bopd (no less than 800 bopd from Goudron was the latest comment) at year end. Huge difference in 900 to 1600 bopd and huge difference between $60 to say $90 WTI to Revenue with the lower figures producing $54,000 daily and the higher $144,000 daily - even the lower numbers were a pie in the Sky dream 12 months ago!

My glass is definitely half full but when we are at a SP of 4.4p and we are talking of £2 a share or even £1 a share we all must realise there are an awful lot of small stepping stones to be taken first. I am not saying it wil never happen but crossing the 20p mark will be an important milestone in itself (as would 10p). My end of year target (in my head but now on this forum is 20p) and I still think it is achievable but I admit it’s looking unlikely as we enter Q3 but we do have 3 more Operational updates to come. Production was always going to be more incremental in H2 so whilst the headline number out soon is important it’s not as important as understanding the operations in the last 3 months and the plans for the next 3 months. The derampers will say ‘more jam tomorrow’ but they had jam in October when the SP rose to 8.025p and never took it. I feel a lot of us believe in the 3-5 year plan and as long as we get there we can wait for it as it will be most worthwhile IMO. The recent assessment from VSA suggests there has ‘maybe’ been more challenges in Q2, work on Bonasse and Icasos due to start in Q2 ‘ may’ have been delayed until the legalities were signed and sealed - but we don’t know any of this for a fact. My guess is we’ll get the Operational update on Monday and then we’ll know. The lack of buying ahead of this news release is not a worry but it’s not a positive sign either - all IMO

Only 20 trades recorded today and a very small volume so while it’s not good for morale to see red at the end of the day it is almost irrelevant. Top drawer fundamentals with outstanding potential on several fronts will see us investors well rewarded ‘in due course’ . This time next year how many wells in West Denver will we have drilled? What % will we have? How many companies are using DTU? Is the Helios play generating revenue? As well as reducing the cost of DTU how much Nitrigen will we be selling to other industries? How much CO2 are we providing to the drinks industry and others? We don’t know these answers now, but in 12 months or less I’m thinking we will. Does anybody seriously think the SP will be anywhere near the current levels? All IMO but we have so much news to look forward to and hitting the bullseye with any of these plays will rerate the SP and hitting the bullseye with several of them or all of them is why we are here. Good luck to us all

Back over $74

Volume is up at last, turnover should be over a million today and there might be a decent push into the close too. Looking good for next week IMO

Any holder here who has been nervous about his investment lately as the SP has been dragged down and then stagnated really should listen to the VOX Podcast interview with Robert Price today. He is very excited and uses the words we like to hear like ‘significant’ and ‘transformational’. I really do think that once the market digests today’s RNS and the podcast is more widely listened to the upward trend started this morning will continue. We have seen a few false dawns here but it is hard to keep this down now when there are many significant plays.

The new flow rate represents an increase of over 45% on the initial flow rate and they seemed pretty excited when they announce that. Great company in the making, I don’t feel investors will get bored here as good news keeps getting announced and the SP starts to and continues to rise. IMO there won’t be many sellers so when the share becomes in demand, which is only a matter of time, I am hopeful of some big gains here - GLA!

I agree with you Gallini. When we hit mid 30’s it will be on the back of some more good news in which case the huge potential here still won’t have been fully tapped IMO and ‘fatigue’ is quickly shaken off when the SP is rising

We all know nothing goes up in a straight line but even so the rebound in WTI from $65 a week ago to today’s $73 plus is nothing short of spectacular. Nobody knows where the price is headed but with Nigeria, Libya and Venezuela unable to produce their quota and US sanctions severely affecting Iran and the a large monthly drawdown of stock in the US there is no reason to believe in the short term this can’t hold above $70.

I’m expecting another rise tomorrow and RNS on Monday with Q2 Ooerational Update - time will tell but I think buying under 5p is history

The sell at 13.55.07 was my buy and I suspect several of the others were too but volume today is really small

The amount of money in the bank at end of Q2 may be an indicator but it won’t tell the ful story. I want LK to invest the money as soon as he makes it so it makes even more, is this not the money wheel LK referred to previously? We are clearly cash flow positive despite emplying an increasing work force. Spain costs have reduced, NR and JT off the books and until this month WTI has increased month on minth but even WTI has impressively bounced back to over $71 today. Q2 Operational Update Monday?

Fadec92 - it is hard to work out why sentiment has deserted this share so much when you read what active projects they have in addition to the high risk high reward Helium play. Add to that the fact they have no debt, in fact there is money in the bank and producing oil and generating revenue on a free carry then it must be just a question of time. I have always felt a possible turning point would be the announcement of flow rates from the additional 6 wells and when that is translated into monthly income for the company sentiment might change. I do hope so as that time is fast approaching.

Bernie38 - you say ‘this has been on a downward trend for nearly a year now since the initial spike of the so called new era’ - just wondering which initial spike you are talking about. The one from 2p to 3p, from 3p to 4p, from 4p to 5p or when Schroders initially bought in at around 5p and it quickly went to 6.5p or maybe you are referring to the last spike when it peaked at 8.025p. Most shareholders are probably disappointed with today’s SP but believe the company has laid down great foundations and is headed for bigger and better things or else they might have sold out at a 300% rise around the 8p rise. Didn’t you think of selling? If not, and you thought the company would carry on progressing, what has recently changed your mind?

All will be revealed at end of Q2 when operational update will be released which IMO will be a week on Monday. No point dissecting any quote before then because we dont know the facts behind the figures.

The progress the company has made over the last 3 years is amazing, it’s hard to imagine where it will be in another 3 years time if the pace of growth continues and there is no reason to believe it won’t. The only frustrating fact is the low SP but it can’t remain this way forever as value is added to the company with each positive RNS. I find the declaration that DTU is at ‘tipping point’ very exciting indeed. This was announce before the drilling for nitrogen was made public and I I think this nitrogen will provide the tipping point by reducing costs for DTU and I suspect contracts have already been Put in draft and ready to finalise and sign on confirmation of the readily availability of nitrogen and when final costs are confirmed. Things could move pretty fast here. With ED producing revenue and with the flow results of the 6 latest wells to be announced shortly what is there not to like? Plans have been outlined for West Denver for next year and Helium whilst a high risk is still a live project so there is plenty to be excited about here and the downside appears to be minimal. I feel patience will be rewarded in the long run. Good luck to all who are invested