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500K shares which will no doubt show as a sell.

But with an sp at this price even if it takes another 12 months to treble in value I can wait. It may not get to a £1 party but at anything from 3p onwards I am into some serious returns as I break even at just over 1p. I hope you all get to the same position.

Assuming the FO goes ahead, what is everyone's best guess as to how the sp may be affected? (Call this a bit of Friday afternoon fun).

Personally I cannot see us getting a mega deal initially, hence I hope it will be staged, so maybe a penny or so increase?

Thoughts?

Tondy, I'll take that - where do I sign?

That's a good point WAaussie.

From my point of view it may be the best outcome if the price is reasonable (3p or above?) given that we have produced no commercial oil yet. Maybe a bit of jam today is better than waiting for a potof it at some distant horizon that DW keeps alluding to.

I know Winx was a minor project in terms of cost, but I can't help feeling that would have raised our profile. We are in danger of being overtaken by RMP in terms of the current sp!

I would think that DW has to be careful not to send out 'BUY' messages to investors, so he tempers his enthusiastic responses with a very thin vaneer of playing both sides.

As a major shareholder he has more than simply a slaray to worry about if this doesn't come out as hoped, and although I have never met him I'll bet he is as greedy as all of us (meant in a joke way) so will be looking for a significant sp rise asap!

An absolutely 'must watch' for anyone feeling a bit luke warm about our prospects.

DW may be a shocking RNS writer, but he can certainly tell a good story to the media (and to us in his own way).

I am holding for FO news on the basis of one of the primary rules of the stock market, that information likely to have a significant effect on the price of the shares if it were generally available should be disclosed.

If the FO is continuing then there is no specific information to release yet; however if it was known that no FO could now be achieved in the stated period then I belive that would have to be released.

On that basis I expect FO news of some positive sort.

'Obviously need to hit 1p first so hoping for that very soon, followed by a quick hop to 2p then a shimmy up to 3p.'

Worth remembering that yesterday with all the excitement of expected Winx results and large buys going through we were only 1.4p. Not sure with Winx now not working out that even a good FO announcement will raise us as much as 3p, maybe 1.5p?

No doubt about it, this is news we were not expecting. Yes we are all here for a nice payout and so get carried away with expectations, but all seemed to be going well. Hey ho, tomorrow is another day.

So, on to the farm out then? Well I hope so but some concern now about the time this is taking and the fact that a deadline has been put on it. I cannot see any major being told 'you only have until...' so i am 50/50 as to if it will happen.

What about a buy-out. Goodness knows with our current sp no sure we could defend a hostile bid at 3p.

For my own opinion, I would like to see us go back to Paul's project IW2, armed with the info and expertise from Baker Hughes, and see if we can get it to flow again but properly and commercially this time.

Just checking back, I first started buying TPET in Feb 2013 - look how that finished up.

Kept the TPET shares even though they were junk status, bought 88E as well in the years between, and now here I am six years later still hoping to earn a few bob. You get shorter jail sentences!

I also use the one SpiceMerchant recommended below - good enough for my basic needs.

I am finding it hard to resist playing with my spreadsheet that shows my returns if certain sp figures are hit. A very little goes a long way it seems.

The CGT will be a killer if it really takes off, but what is left in my pocket would be a life changer even at anything over 4p. Bring it on Dave, and good luck everyone who is invested I hope the next few weeks creates the same opportunities for you all.

'Can those of us who have been around since the Tangiers days come for free?'

Well that's me then. Been hanging on for years and now, finally, it looks like my investment in TPET and 88E combined will pay off. With 4M of these I would very much welcome a £1 party!

Oh, BTW, welcome to our new 'Lady'.

WOW!

What a read - good find HarryGatto.

I know that we have to treat all opinions with a fair dose of salt, but heck, if this was to come true the £1 party is definately back on! GLA.

Good watch, thanks for posting

Thanks for the responses. I am now in 'hold' mode!

I am confused about the RNS, but having never been in the oil industry I would appreciate an opinion.

It suggests that the results may be good but that analysis of the data and samples is required. That seems perfectly sensible but can't help wondering whether this is always the approach or if sometimes other evidence points to it immediately being commercial?

If the latter, and we don't have that, then the RNS seems to be based more on hope than reality, however if the former then I am happy to wait for the analysis.

Any views?

Its going to be a retail park, as if any more of those are needed!

'nice place Southwold'

Just down the road from me - nice but full of elegant holiday homes for the rich and famous who rarely visit. If Winx comes up trumps perhaps I will be able to afford one!

Good post Deafcon,

no bile or hate, no sarcasm, and simply stated facts about oil exploration.

Reminds me of why I come on here sometimes. Thanks.