Member Info for SimonT

That theory makes sense Zib, if YA had a huge short running from before the 3rd then found themselves massively under water it would be cheaper for them to get shares at the 20 day average off us than foot the bill for the margin on the short!

I thought about that possibility too but as their claim on default is for dollars not shares then surely they would deduct any cash payments received and the claim figure would be lower?

Quote from the RNS;

The Purported Default Notice demands the redemption in cash of 2,650 Preferred Shares at a liquidation amount of $2,650,000.

What I fail to understand is why their claim on default is for the value of 2650 preferential shares? If their beef is about them wanting shares instead of the cash that we have paid? then their claim would be smaller? The size of it suggests we have not paid again since the first payment?! Yet YJ has told us it has been paid, someone is telling porkies but who?

At the time of refinancing the YA debt, YA held 2891 preferential shares, their claim for default is only for the value of 2650 preferential shares so clearly some payment has been made to them that they have accepted.

Or the owners of the shares the broker lent out wants to sell them?

I like these bits!

and also puts the business within touching distance of its 1,800bopd profitable production benchmark. Baay told us that the firm has now hit the all-important 1,800bopd level.

"Hopefully, in mid-September, we will be through that 2,000bopd range, and once we have two weeks of production at that level, we will put out an update with more details. We still hope for our exit rate to be 2,100bopd this year".

So we might have an update announcing 2000+ bod and running well in profit around the end of the month?!

Can be beneficial to the SP! If you sell high and buy back lower your buy will be bigger than your sell resulting in a net benefit to the SP and a larger holding. Also if everyone held there would be fewer buyers on good news resulting in less of a rise! Those who berate the traders should remember that it is they who do the buying to drive the price up on news!!

I am here to try and make a few quid, being an LTH didn't work, or hasn't yet! At the end of the day an LTH wants to sell higher than he bought, trading just the same as any other trader yet some LTH's frown upon traders?? The only difference is the frequency of the trading.

Looking back at the 3 year SP graph there have only been 2 mega rises that could have been life changing if you bought at the bottom before them, unfortunately I rode them down before hand so all they did was get my head back above water. I wont do that again if I can help it!

Just my opinion Tsbs, time will tell. I may be wrong but I have slid down so many snakes with this company that I have lost the fear of missing out so I am trying to just climb the ladders these days! Historically things have always taken longer than some have thought including myself. I am sure the time to get back in will come way before any big news?! Or I will cry!! it is all a gamble!!

I would imagine that a deal agreed between 2 majors FRR and also the Georgian government wont be as simple as buying a used car! Once a deal is agreed there will be lots of documents to draft and each party to get their legal teams to approve etc, months I would say?!
And they have yet to complete the fracking and testing of other zones before all the test data is complete.
I think anyone riding this back down for fear of missing out is delusional!!

Thanks for the link, there are not many companies that provide that amount of detail and information, well worth a read!

Exciting times ahead!

The way I see things is Petrotrin would stand a better chance of becoming profitable again if domestic oil production was increased reducing the need to import. Maybe the T+T Government will help/encourage the local producers to achieve this? There does seem to be good oil import and export infrastructure so I don't see oil sales being a problem in the short or long term. Be great if a restructure could return the plant to full operation using domestic supplied oil though as that would benefit the countries trade deficit.

Reading the ops update again reminds us of what is to come, some quotes from it:

The CO-372 well was spud on June 15, 2018 and reached a total depth of 6,500 feet. The rig was released on July 13, 2018, and the well was cased for oil production. Wireline logs indicated the presence of approximately 413 feet of net oil pay as follows:

CO-373 was spud on July 17, 2018 and reached a total depth of 5,250 feet on August 3, 2018. Wireline logs indicated the presence of approximately 240 feet of net oil pay as follows:

Completion operations have commenced on CO-372 and are expected to be concluded by early next week. CO-373 will be completed immediately following CO-372, with both wells expected to be on production within the next two weeks.

CO-370 and CO-371 have yet to be completed in their primary up-hole zones of interest as the Company has been producing from deeper secondary opportunities in both wells. Current regulatory guidelines require deeper prospects to be tested for commerciality before moving up-hole. The sands of the Upper Cruse Formation have not proven to be economic based on initial testing with high gas rates being observed in CO-370 and limited inflow being seen in CO-371. On a combined basis, the two wells are currently producing at a field estimated rate of 20 bbls/d. The Company has applied to move up-hole to the primary zone of interest in both wells and will commence operations once approvals are obtained. It is anticipated that both wells will be completed and on production before the end of August.

With TXP having given us 7 operational updates in the past 12 months and 5 already this year it shows we are not restricted to quarterly news so I wouldn't be surprised if we had another update very soon, either on the completion of these wells or to celebrate achieving the 2000bod milestone?!

There is a 250k buy at 18.85p showing now from yesterday, that would explain the rise against the displayed small sells.

Onwards and upwards!

Somebody must have lobbed a decent sell in or where have they got the shares from to sell at these prices? Or Shore Capital still had some of the placing shares left?
I am not complaining, I got the top up they wouldn't let me have yesterday a penny cheaper! :-)

This is only going one way!!

With the increase in oil price I expect the income increase to be well in excess of the 11% quarterly increase in oil volume production and the 29% increase in oil volume production over the same quarter last year.

Looking good!

I expect there is still a large buy to be displayed from yesterday too?!

They drop the price but wont let me buy!!

Bedex, as you know there are always exceptions to every rule!

http://www.lse.co.uk/SharePrice.asp?shareprice=TXP

People with serious money are clearly aware of the value soon to be realised here!

Is expected anytime from next Monday onwards, it is anticipated they will announce the achievement of 2000+bod plus running at an operating profit with plenty of cash in the bank for the proposed future field development plan to take us to 5000bod. No dilution from placings with this oiler!!

I imagine the rise will accelerate towards the weekend, get some now or pay more!!

https://www.investegate.co.uk/range-resources-ltd--rrl-/rns/rrdsl-new-contract-award/201808060700408536W/