Member Info for THE_CHAIN

Think you mean 36-2 DSRT.
I'm not expecting news from the new well until week of the 20th but will be happy to get some sooner.

I think we could get news on 16-2 by next week as the production testing will have been running for a couple of weeks by then.

All good either way, just sitting on hands.

Switch off and come back when we see an RNS with 16-2 or 36-2 related news. Enjoy the festive period. 2022 wasn't our year. I am very confident 2023 will be far better.

I do think a lot of the issues for us this year, especially now in the later part of the year are down to general market conditions. A lot of speculative money has left the market due to the current economic climate. As I say, hopefully some good results toward year end spur us over the 7p mark. I've revised my personal end of year price target to 8p. Fireworks now reserved for 2023.

As previously mentioned, don't completely agree with that school of thought. If 36-2 production test in January is successful we could be producing oil from it in Q1.

Agree Womo. The acquisition of the williston was a master stroke and anyone who can't see that needs their head wobbled. So many Aim companies get taken out because they run out of money. Not a problem here, and the opportunity to prove up a major resource. The only bad thing here is the timelines are longer than we would all like. But we will drill these wells and we will get to production, and the SP absolutely will reflect that. Just more patience required. Personally hoping for a little Santa Rally towarz Xmas, stemming from positive production test results at 16-2 and news of reaching TD at 36-2.

Agree Nelson. The infrastructure is key here to the gas export side of things. But not the oil! We can truck that , if the 6" gathering line next 36-2 isn't ready we should in theory still be able to produce nearer term. 36-2 is not expected to be gassy at all, so should not present the same problems as 16-2. All in all far more straightforward if successful.

What you are describing there Setanta is not a liquidity issue then if we have plenty of shares in free float. The issue is we don't have sustained buying pressure. Which I agree with. And was the point I was making.

He was mentioning a 10 bagger when we were at 4p ish

5 bagger MINIMUM from 6p ish.

Please excuse typos. Should proofread more often!

The company can do nothing at all about the liquidity of the share. Only the MMs and the market can do that. Currently good news are good news is not enough to spur on buyers. We need the share price to go up to 8p plus to encourage sellers, thus releasing shares to free float and then bought..sorry for the egg sucking lesson. But the liquidity will not change until people are willing to pay a higher price than 6-7p. An insto buying, with added pressure of PI buying would drive the price up considerably. As it happens, a few Instos may be dipping their toes in, but can dictate price as there is little to no outside buying pressure from the wider market. They just have to wait for the odd PI to get board and slowly soak up the few sells each day until the order is filled. We need news of the black stuff and a timeline to production from 16-2 and 36-2 to whip the froth up for PIs, a fickle mob who want get quick rich or loose all their money scheme rather than a 9 month wait from here, with a very good chance of making a good profit.

22m shares would be just over a 1 million pound buy at 5.09p would it not? Hardly tiny, considering a series of 1m share buys have moved us significantly up? Either way, not reported on LSE trades so likely a glitch either way.

Must be a glitch. 22m shares would send us flying.

On the point of goods news following 36-2 we should be at TD by the week of 19th Dec. Completion crew to follow, a chance we could complete and be ready for the production test prior to new year. Production testing commencing in early Jan. Now that would be good.

Buyout or Dividends. Two attractive future scenarios.
Let's see if our big buyer is about again today. Seemed to coincide with later in the day, so, perhaps US based, perhaps one of Panmures chums.

You called it mate.

We already knew 16-2 had commenced its prodcution test but good to see it getting its own RNS. Certainly deserves it.

Another chunky buy late reported.

The Intel re IIs could be correct. Glad to see such a good rebound.

Perhaps PG like the 5.8 mark to let their new pals in. Hopefully they buy a lot and drive the share price back up. I wouldn't like to be out of this over Christmas, if we can get a completion crew in and start production testing 36-2 in January I think we can expect some new years fireworks if we get positive results.

Panmure gordon initiated with price target of 12p

Interesting timing for the Panmure Gordon meetings... they were appointed mid Aug. My understanding it was after a big round of talks & "beauty contest" to find the best fit that included depth inc:
- research based O&G analysts
- institutional based customers
- UK & US offices & clients

Possibly the most important element of all was a broker that truly understands the potential & "got it"!