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You’ll have the rampers out in force today so beware, those that bought in the 1.40-1.50 region

Opening today anyone?

Just beware of those out today holding shorts here. Ignore the noise and invest on what you and you alone believe. Yes, I’ve always said RMP is very heavy on success of this well, which if doesn’t perform will tank the share price, but in succes the reward will be greater. At this stage imo a sensible approach is to leverage with 88E given on a failure they won’t be hit as hard (like last week) but you’ll still get a tidy return across the two by holding a position in both End of the day, it’s still a big risk here until we know for sure it’s commercial quality and quantity GLA abs blue day today

Albeit ASX was still 35% down on the day

https://mobile.twitter.com/Zubairssss/status/1102436857583988736/photo/1 Sounds a lot more promising, long way to go still but fingers crossed for the start of a recovery today!

https://mobile.twitter.com/Zubairssss/status/1102436857583988736/photo/1 Should see the start of a recovery today imo. Well done to all those that held Long way to go, but at least some positivity Maybe my 3.7p average over at RMP will recover today!

Maestro totally agree. Nothing false or wrong with the tweet, my point was why bother tweeting it. It’s a bit of a slap in many people’s face imo, should have just keep quiet unless they were tweeting something worth while

Worse if your holding RMP as that needs 200% plus as a start to even get back to most people’s break even! Those buying early last week need 2 bags to break even. At least with 88E with good news we would be in profit fairly quickly if your on a paper loss

How is that an “exciting tweet?” It’s the tweet to try and reinforce/cover a poor RNS. Why they tweeted that after issuing what they did is beyond me. Itbsaid nothing that wasn’t in the RNS, just a way to try give some hope. They should have worded the RNS better then they wouldn’t need to “tweet” rubbish Why not tweet drill bit position ie N4, N5! Now that would have been helpful Not impressed with the bod and 88E tbh, seems couldn’t find a r s e from their elbow on a field with oil everywhere so far! I sincerely hope we get good news next week

They didn’t actually have to issue anything imo, hundreds of companies have news “reported by fake twitter accounts” and they don’t RNS. It’s just twitter gossip The news was due to ASX rules nothing to do with twitter imo Monday/Tuesday will be make or break Just please let someone else write the next RNS instead of DW for god sake!

Verbier imo I felt it was an insult to tweet that after such a poorly worded RNS wiping millions off the mcap, and many people lost thousands. It was a pointless tweet saying nothing we don’t know so they should have kept quiet imo or issued something clarifying drill position which most would have welcomed

Is there a link to the tweet? Is this a new one as I’ve been out all day? Thanks

Miner very true, that’s why I left my average at 3.8p here and bought 88E at 0.78p, that way I’m leveraged albiet it will only work if we have a success next week, but worst case 88E whilst less rewarding is lower risk which hopefully limits any loss on RMP if news is bad, as 88E will recover quicker and recoup any RMP losses Just won’t be as big a reward but depends on each persons appitete for risk here, given the last RNS. Even buying in on a positive RNS and even at a 100% increase those buying initially at 3.8-4p will still be buying at 2.50p half of what their initial holding was, and seriously de risked whilst the leverage on 88E is pure profit Of course, it only works on a positive next RNS

They could also lose a further 50%, that’s the risk here. Sensible people may look to leverage against 88E given they have further drills, whereas RMP are fairly reliant on one or two small opportunities short term

Jon, as I’m gathering ;) GL

Degsy, apologies if I just seem to actually understand the sector I’m invested in. How dare I! I think the desperation came from you Friday ramping and pumping, I just see it for what it is here and understand the RNS Just answer me, do the economics stack up to produce low quality oil here on low commercial quantities? Are they any companies that do this? Would it be economical for RMP do this and turn a good long term profit to reinvest? Explain to me how you would play this is no more oil was found if you were CEO Answers on a postcard

Maestro no one is disputing that may or may not be the case with horseshoe My point is the fact people are here assuming we will be happy to produce “commercial” oil based on this weeks RNS, yet no one seems to accept the quality is very poor and economics do not stack up to do this That said let’s see what next week brings

Profit it’s nog just about “commercial” You also have to have good quality There is big difference between crude HIGH quality oil in low commercial QUANTITIES and low GRADE oil in low commercial quantities The oil we have currently is highly water saturated So, if you work out cost of extraction, production, sales, transportation, tax VERSUS income per barrel, you’ll see if not worth it. Again, from the RNS Weak to moderate oil shows were recorded, including fluorescence and crush/cut fluorescence, whilst drilling through this zone; however, initial petrophysical analysis indicates potentially high water saturation Seems some can’t grasp the holistic RNS and are far too selective on “picking points” rather than reading the whole document and how the industry works But I guess you’ll never help some on here I don’t believe there is one company currently producing and selling low grade, low commercial highly water saturated oil. And there’s a reason for that!

End of the day we have a couple more zones, it’s not over imo, just one zone, and maybe a re evaluation on reserves But we won’t know until the next RNS

Haha. Gets better lol Low quality, high saturated water. Oh whoops harhoo doesn’t understand that part. Sadly he can’t see there is a big difference between “low commercial” and “revenue generating production” in the oil exploration and drilling game No more oil, no more well. Really is that simple He will only actually believe if we ever get to the point where the well finds more low commercial grade oil and we get the RNS that the wells been plugged. Only then will he grasp it. Forget the current zone, it’s as good as a duster. Focus on the other zones now