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There is a line in the RNS referring to consideration to Great Bear - 'Provide an option for Great Bear to acquire a further 10% working interest prior to the spud of the initial test well ...'

Who is surrendering the 10% or does it come from each of the working partners equally? This is not made clear.

I agree. The more I here about what is going on down there, the more I believe DW will bring this project home. Will it be commercial at first go? Who knows, but as Dave said as long as they understand why any issues have arisen they can potentially do somthing about it. Plus we have Yukon and the conventional 3D still to come, so almost a free carry at this price. Topped up with another 150K this morning.

Great post Gumball. Just one observation if I may - 'We have now waited patiently this past week and received a new operational update. 370PSI 160barrels of oil per day...' that is frac fluid not oil surely, but I lack the knowledge to say if oil would flow at a similar rate?

.....that even a 1M share trade is only about £18 - £19K. A decent wedge for most of us but hardly a game changer in terms of the market overview of the company when there are 5.2billion shares in issue. I would guess that what we are seeing is mainly computers 'talking' to each other over the trading floor to balance order books and trigger auto trades etc.

I bought 250K of extra shares yesterday at a fraction over 2p. Was pretty chuffed to get them cheap. Don't I feel like a wally this morning! Still believe that the longer term will see a handsome return though.

Further to my post of 10.52, just got another 250K. No need to do this, bigger personal risk, and simply based on sheer greed. Please DW, tell us its commercial before I lose my shirt....

Oddly I find myself now transferring money to my trading account with a view to a potential cheeky top up. When I accumlated 1M and my averaging down managed to even put my old TPET into profit, I said that was it. Wait for an opportunity to get out with a nice profit. So what the heck am I doing thinking of topping up again? Madness. I must have taken a 'greedy pill'!

A video explaining what is going on right now (please don't shoot me if I have this wrong)... https://www.youtube.com/watch?v=F1IVAu6t05U

Great post H-H. I was suprised that the mention of water seems to have sparked concern. Personally I was gratified that it was flowing without any lift at this stage as to me (a non-oily) it suggests a reasonable pressure? The RNS I want is to say the water (FF) is minimal in the flow, HC's are of good quality and increasing volume, and the pressure is constant indicating a potentially commercial well.

MM's hoovering up shares via a 'tree shake' prior to expected large demand next week maybe?

Good point well made Sageman. But most on here seem to be geared towards the mythical �1 party rather than �5k to change their car. Anything in double figures is a life changer for me, but I have to admit a lot a oil probably has to flow first for us to get there - but I will probably hang on unless I can't resist the 'greedy pill' in the meatime.

Interesting though it is to see the chats about sp movement of a fraction of a penny, nothing of any significance will happen until the company release an RNS to say a) that oil is flowing, and b) the pressure is both high and consistent. Then all previous chat subjects will be forgotten. Until then we debate small changes that don't do too much to affect anyone's portfolio unless you have mega millions of shares, and if so you are almost certainly going to hang on to them. End of next week is when the excitement will really start to build IMHO, providing they confirm the flow has started.

Livin, 3p will be a trigger point for a number of automatic sells I would guess, so unlikely most are being triggered by individuals. Wait until those auto sells are out of the way and then the price should rise again.

On the subject of films, do you remember Jacko explaining why he believes? In an 88E context: I say this : I believe. I can never find a way to argue down you that don�t believe, or know more than me but I believe in Dave and Paul, all knowing and all determined. And I believe that oil shall be triumphant in the end and that the proppant shall be vanquished. I believe that we shall see this project delivered. I believe.

'I'd agree with that too, SilverTrader. The average is the "wisdom of the crowds" and crowds don't come much wiser than this one ;)' Well we will find out in a few weeks how true that is!

Saint Anthony, 'The average of all the guesses/entries is 4.28 (rounded) ....' I would be very pleased to see the sp at that as a starting point. I guessed a bit lower as this is AIM and no matter what a company's true value it is rarely reflected in the sp!

That's what I had been waiting for. Explains the cash raising and he sounds in confident mood. Bring it home now Dave.