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Did CH not say they were still using a restrictive choke in order to prevent their facilities being overwhelmed by the flow of oil?
Quite literally before he suggested the indication of a much larger connective reservoir I think.
Oil literally bursting out of something that's potentially much larger than we all thought it would be - Are we not entertained?
Yes of course, that's exactly how it works.
Buyers push the price up and sellers push the price down - It's a perfectly straight environment without any sort of manipulation from anyone, even though there's billions upon billions to be made from doing so.
That's me told I suppose.
I'd suggest this is being tinkered with, as it has been for months, in order to flush out any of the remaining sellers on this news or LTH who might be rather frustrated at how the SP has under-reacted to this news.
It's clearly being held in order to be attractive to a certain market - We might see something bubbling when it opens in the US, or it may take a few days, another interview with CH and a post from Malcy.
No reason why we can't see 50% from here in the very short term I think.
I made about 500% on a company called Xcite energy back in around 2011.
I still don't think they've managed to produce any oil - Last I heard their main asset was handed to another company on the sly.
There's always a time to exit...
Yes, indeed, some years ago, I think I had a £20k+ paper profit sat in Rose, with Idiens promising the earth.
I seem to remember going on holiday and finding some calamity had befallen the company and most of it evaporated in about three days without my knowledge.
Think my entire holding was worth about £1.5k when I came back in with a further £9k, at a price which now seems bizarre (0.5p).
Some pain before this pleasure, it has to be said.
I'm obliged for your response thanks.
I think I saw it as a ten bagger some months ago and didn't think much beyond that really. I don't doubt it's wholly possible and whilst the company always looked like a rare thing, there's a few bridges to cross before it can become that even rarer thing, one of history's oily myths, like Tullow or Dana .
There's a few variables between here and there I think.
Bhoys, do you see this as a once in a lifetime opportunity from here?
I saw it as that when it was down around a £4m Mcap when I bought back in but I'd say that medium term here is probably something like 200-500% upside, which is great but is at a level where we've all backed a few of.
Do you see it beyond that?
Much problem with this tipping over 10p in the short term, albeit, I did think it would be getting there by this stage.
Quite clear the inherent value is there, with what you might also term almost limitless long term potential on top of that - Obviously there's quite a few variables between the 10p stage and the 50p+ stage, which is hopefully some way down the line.