The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Happy days not, they should have sold up after proving oil flow at the Paradox or raised less and drilled once more to prove up further, not spent a fortune on nodding donkeys, investors are going to need a lot of patience with this strategy imo.
It won't in all probability move before the test results unless there is a leak of information which there should not be, plenty of confidence from the company but undeniably at a risky stage now for investors imo.
The listing price was 20p, yes the usual first day spike never a good time to chase it so not doing too bad considering. We have had in just two months an important executive appointment, detailed interim results, a progress report and a fairly significant director share buy.
This is a real company, patience required imo.
After reading the rns and listening to the interview It seems to me that this well has not flowed oil to surface and are hoping this can be rectified if hydraulic fracing is used, or am I missing something.