Member Info for SEA7

should have no problem getting to 5p- this had overshot to the downside, now the drilling is about to begin, it should start to be factored in.

no it is not a straightforward sell, as they have a programme of events running and an expectation of 16a production numbers.
the downside is that it is still a loss making company until they clarify it and production, initially will be used to clear the liabilities incurred at the corporate level, then it will be funnelled into the field development. This phase of drilling is funded, however, the corporate level is loss making for now. They still have lots to do and pay for and that well is not confirmed as a revenue generator yet.

4p was the previous support and i would expect to see the consolidation take place around the 7p mark and that as the new support level.

price moving up - the rig must be nearly in place and deepening commencing. 3.1p paid - over the displayed prices

just for you AJW -

On the upside - malcy on vox podcast yesterday..... could get a few buying

https://audioboom.com/posts/7226886-sdx-energy-block-commodities-and-malcy-on-o-g

thanks Ezhik,

aim stocks are classic "never let the facts get in the way of a good ramp"

I am sure you will be right in the fact that the production will be throttled to way below 1100 and that as the well is pumped and mobility of gas and hydrocarbons increases, then there is the chance of greater flows or not as the case maybe. There has been no mention of any water cut as yet, which will be of interest in the overall production profile.

As you say, they do not have 100% yet.

Until the company clarifies it, then the stock will no doubt be rife with speculation and claims.

cannot argue with that ffsapa, selling into the rises, is the way the pro's make money - not buying the tops.

There will no doubt be a decent slug of cold money here for the longer term though.

degsy - the reality is that until they confirm that the well is on production and the numbers, then the company is still loss making, as it is only at 60bopd confirmed. The value ascribed to the 2P, is only relevant if they can get it out of the ground at a commercially viable level. They have not confirmed anything apart from an initial, very short term result.

There are plenty of things that can go right, as well as plenty that can go wrong, such as well collapses, blockages or on the other hand, it produces even more than expected.

yep and the market makers know this.

look at what is happening today - plenty of false flags on the upward price moves - they are dropping the price, getting more panicky sellers, then moving it up slightly, volume dries up, no buyers or very few, then they bring the price back down again spiking the buyers and then the selling resumes.

The only thing that will change the direction today is sustained buying and that isn't happening yet - no trigger for it.

The price will need to find a new natural support level or it will be 4p again, if the news takes longer than expected.

AJW - those larger holders, especially ones that have recently bought and declared are not likely to be selling today. These guys tend to hold, then if there is a fund raise, take part, supply more cash and then their holdings percentages stay the same, meaning they maintain the desired exposure to the assets as it develops.

It will only be retail traders, short term traders, hot money and dumb money selling out today. Plenty that bought in the 10s and 9's will be selling, as stop losses are triggered in a volatile stock like this.

we know there is a story in the background and this is an aim stock and it is being played brilliantly by the market makers.

lol - just reading the market as it is - the volume is driving the price down today - more sellers overall, without buying support

The hot money is moving on, the large buyer has completed and the current volume is driving the price down, meaning that there are not enough buyers to soak up the selling that is going on.

This is likely to drift lower without news, as boredom and fear of the delay signalling something else sets in.

From a chart point of view, the only support level is at 4p - the question is, will the company release good news, before it gets back down to that level.

thanks jfk8

degsy,

as shown by my copy and paste of my first post on this board, after I had purchased stock at 2.9p, I have been in this stock since the beginning of the year. I de-risked the investment at 4p and then ran a free carry on the rest - booking some excellent gains today.

You most certainly were not here in the 2.9p days, as your first post on this stock was on the 2nd April.

degsy - my first post on this board.....
RE: Re-rating potential, fully funded 03 Jan 2019 15:05

yes, shouldn't be long for an update here.

Took a position at 2.9p.

you can check if you like, it is there on the date and time stated above.

and that is why most day traders do not make many successful trades.

rebranded as a georgian oil e and p player - no edit button.

no - I do not see this going the same way - I think they have got lucky here, although they were about to fall apart when block was known as goldcrest resources. Paul Hayward was appointed in 2016 and back then they owed money all over the place and could not pay creditors after two failed attempts at listing on AIM.

Since they changed name, ditched the loss making enterprises, managed to list, got some georgian assets and rebranded as an oil e and p player, they appear to have turned a corner. You will have noticed that a large number of the shareholders at listing were also holders and/or creditors from the goldcrest days, so I suspect that the rise of blocks share price has been a welcome bit of news and some have seen it as the opportunity to exit with a profit, after many years of holding.

Still, that is water under the bridge now and I see no reason why they aren't upfront and honest about what they are doing.

Paul turned up at Goldcrest resources and that is when the changes began to happen - so I would say he is on point with his intentions.

yes - I read some of the RMP posts - what did that stock do --0.55p to 7.5p, then back to 0.55p - how many got rinsed over there.

because degsy he set himself an amount to invest and has steadily bought to that level. He probably has stock purchases in the 3p/4p/5p range - buying some at 9p/10p at the back end of his investment purchases, will barely raise his overall cost price in real terms.

a decent production rns and it will definitely fly - the market as we know will overshoot to the upside on sentiment and then
retreat to a more realistic level. Some will get spiked no doubt.