RNS must surely come next week , the well will surely have a stabilised flow rate by then. The excitement will surely come with the operational update and the final results news & spudding the next well.
The plan regards the SP should be in three stages to get it to where it should be to announce the flow rates , then a positive update followed by better than expected final results all which are due in the next four weeks. This should (all being well) propel the SP into the teens followed by a spud on the next well , flow results from the next well and by the end of the year we should be heading towards 20p. GLA
A positive start to the week, it should continue with anticipation of what news is expected over the coming weeks . A leak could accelerate the SP before any announcement on flow rates , before news comes we could see this upto 4p and 6p + on any positive news.
This mornings news was merely a technical update of what we already knew, we knew there was oil , this was confirmed, it’s not going be transformational until we get the flow rates which should be in the next couple of weeks.
Lots of news to look forward to, flow update, operational update, second spud and results all due over the next four weeks. And still only £18m market cap, money in the bank, we are only going one way and that’s up .
With the benefit of the 3D imagery and Baker Hughes overseeing the drill into a known resource it was never going to be a duster. With the benefit of hindsight they won’t report until the flow has stabilised.
Today’s rise was justified given the news we’ve had lately and the imminent news that’s due, probably could get called down tomorrow morning if there is no news and then recover . GLA