Member Info for Stocktaker01

The only thing holding this back is YA overhang. However I think recent activity by YA has shown that they are not willing to convert / sell in a flask g market as this eradicates any profit generated as a result of their conversion terms. As shown by PREM good news as is coming frequently here can outweigh overhang that in any we will be gone in a matter of weeks. 2p soon here.

I’d be more than a little concerned if I was short on this now.

All going smoothly and looking extremely positive.

yep IT's back pennyunwise

I think 01/11 will be a couple week early on busting 2p JTTALV. still hopeful of my 2.92p by Xmas :-)

I think SS conducts himself very well particularly in the planning meeting, sticking to facts in his statements also NOT getting drawn into commenting on the some of the twaddle (earthquake , funding to re-instate drill sites etc) arguments against. Also when some of the councillors were asking for additional actions (such as monitoring Earthquake activity ) in order to get approval it would have been so easy for him to pipe up and commit to more than was necessary in order to get the planning. He didn't, he knew the procedure inside out and knew their were already no grounds to withhold permission. A cool, calm, and knowledgeable individual if you ask me.

Handy, YA they are doing what they do. Loan for a guaranteed short term return. They're not investors. I just point out from what I have observed with the selling (or lack off) a couple days before the last conversion and then the conversion being of the lowest possible amount under the terms of the loan it seems that they have slowed down. Of course it's in their interest to convert on a raising market even under the 5 day VWAP terms( a reason why under the "death spiral" blurb makes no sense) but it would be even better (for them and us) if they allowed to price to rise significantly beyond the fixed conversion price that could come about with forthcoming news and them stalling the selling in itself would facilitate. Not their MO. but we'll see. Certainly here and in the past I see YA taking the breather to allow the SP to rise or at least stabilise as that benefits them on conversion.

“Should they”. Handy as thorpedo points out the max they will pay for a conversion is 1.37p (fixed conversion = 130%VWAP) so while they can do quite nicely by Converting at 90% of the 5 day VWAP) they could do considerably better if the share price moved above 1.7 let’s say.

Agree with all that thorpedo. As you say the rewards are there so they decide to change tact.

I think we have found a base here. YA have eased off so it appears for whatever reason they do not wish to drag the price lower( okay so they're Limited by volume also). Along with the continuous updates I think ukog can hold at these levels comfortably. Of course if YA did keep hold on a bit they would benefit massively if this was to move toward 2p by converting at the fixed conversion price - 130% VWAP prior to conversion. Might be a reason they have slowed up.

There's a surprise!

They’re bound to 15% of the daily volume. That is why I believe this can “overcome the overhang” somewhat as we get close to testing. But agree full impact to so won’t be realised till we’re clear. I would r be waiting for that to happen before “getting in”

Initial rates back in 2016 were over 900bopd I’ve ra 7 hour period though a 1” choke. So almost certainly choked IMO.

Given the knowledge of the Portland's true flow potential, plans are now being formulated to drill either the HH-1z sidetrack or HH-2 new drill as a horizontal Portland appraisal well, with a targeted* sustainable daily production rate of 720 to 1,080 bopd, 2 to 3 times the forecast calculated* HH-1 vertical well rate of 362 bopd. All planning permissions, Environment Agency permits and the HH-2 well cellar are in place for a horizontal well. If successful it is envisaged that all future Portland production will be via horizontal wells.

I'd agree with this but I do think its unlikely the placing shares will find "sticky hands". For that reason I'd stick with UJO for time being.

Now IMO. Little more than cash reserves! Assets supposed worth 80m last interim results. Market realty didn’t like that little related party transaction but it’s well over cooked now!

If BMD is to be believed the stall has been due to “takeover” talks re rathlin. No sign of takeover but seems RBD are planning to increase stake in rathlin so not a million miles away. I can see it being the new year before testing is underway at WN again. Just imo.

Thanks for that.

that's not pocket money!

anyone any idea why the Halifax would be giving this message wrt this stock?