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Thanks HITS, being a bit contrarian I am looking very closely at the Ukraine counter offensive and its potential geopolitical impact. I expected gas prices to fall and was angry that GL missed his self imposed deadlines . Moving forwards a new spike (perhaps to 300) would give a sentiment driven rally. So there is scope for 4p this winter IMHO. But time will tell. Whether it is 4p this winter or next from the current Sp it’s a decent outcome.
HITS, I am probably in a minority on this board in that I value your posts. When the SP falls many on here find themselves drowning in a cess pool of positives that have encouraged them to over invest ignoring contrarian views. I am now looking at Angus very differently post sidetrack. I am aware of debt etc. I am also aware that we are now very cash positive. Are you saying that our current cashflow will leave us short on the £4m that needs repaying?
This is currently not an investment opportunity as we have very little information. At best it is a punt. Firstly, they kept the cash on deposit as long as possible (I assume they earned interest, how much and what is the current cash holding net of dividend and costs). They then intend to invest the unknown cash amount into a venture that we no nothing about. So how can a Pi invest in an unknown? You can’t it would be a gamble. I assume that the value of AMC is cash plus losses. So an ideal partner may be a company that needs last minute funding prior to very profitable production. Ideally the company will have exhausted their cheap credit and be trading at a fraction of their NAV. Lots of potential here but ultimately a punt.
Apology accepted. Just checked the trade £11,239.99. My average is 1.8p. I am a LTH from before Saltfleetby and it has taken a lot of trading to get my B/E down. Luckily I bought more in the dip late 2021/early 2022 and then there was a spike last September that I sold lots in to otherwise I would be in poor shape. I think that anyone with a sub 2p B/E should make money here given a 1 year time horizon. Here's hoping.
I tend to agree with both PK and Les. Until a relatively short time ago my 20p B/E looked solid. I have reached my self imposed investment limit and thus can't invest more. I sit and wait hoping for the high pressure well makeovers to work, commercial production levels and a resultant JV on decent terms. The next 3 months will be pivotal IMHO so hopefully not long to wait. I believe we will get a binary result which will either be fantastic (with multi bags) or very poor (sp below 1p). I am happy to wait and see but understand why others with a large exposure are somewhat nervous. GLA
Thanks Shouston, I had read that article already. The material point being that Wyoming is cold, our flow rate is impaired, we know waxing is a major issue but when Read COPL RNS’s they do not contain de-waxing specific information. The article you posted is really useful in that it shows a waxed up pipe so that you can see for yourself just how much the flow would be reduced.
I am no oil expert but have been told that waxing (which blocks/restricts flow) is mainly a temperature issue. I see that we are using high pressure hoses but are they thermally insulted? If not why not? I would welcome any input on this from anyone with knowledge on this matter. Thanks.
BP, I have no issue with trading. There are just far too many persons on these boards who set themselves up as self appointed experts who then deliberately mislead. Thus they ramp when they are selling and post negatively when they are buying. People can trade all they want but why try to dupe others? You could say that if god had not wanted them to be fleeced he would not have made them sheep but its just not nice