Member Info for Torreaguas

i can imagine ! and I can imagine there have been some big buyers mopping up these sells. Opps the imaging resolution was wrong, we ran it again and there is indeed 50m of oil pay.

Level 2 gone to 4v1

NT To Buy, 1st time for that in the last 2 days.

The turn is on?

sells seem to be fading away. Are we near the turn?

common sense would say that the sells have to dry up soon. almost 1.5x the total shares in issue traded in a day and a half.

they could start production from the oil that is there and drill a sidetrack later. We have to wait to see how much oil there is. Like I say, everyone is panic stricken. There will be more news this week imo. So either we go back into the pennies or down further. But they have £3m cash so how much loer can it go? Market cap is only £6m

This could turn from a bad drill result to a great opportunity for Advance. Everyone is panic stricken. We just need to see what Advance say.

Burt2000
Peter Strachan, a Perth-based independent energy analyst, said “the Buffalo field was producing 4,000 BOPD when it was shut down. This result negates any chance that there will be +30 million barrels left. There may be 10 million or 12 million barrels left and that could be a proposition at US$88/barrel oil prices, but for someone else I’d suggest, possibly a group that has access to cheap and mobile production infrastructure.”

https://www.energyvoice.com/oilandgas/asia/381042/carnarvon-gives-up-as-widely-anticipated-buffalo-probe-disappoints-offshore-east-timor/

it seems like a turn is on to me, anyone else feeling it?

12m barrels for advance energy is a lot of oil. They could take CVN share and farm out to a company with production equipment. IMO this is what advance will plan, they simply have too. When they do you will see a big bounce. Bought in this morning by the way. Lets see.

it is on an upward run which should continue. 67p broker target, I will be happy with 30p

Broker Target 67p, https://twitter.com/leedbartz/status/1483019354019188742/photo/1

Raised £3m at 22p in September. https://unionjackoil.com/wp-content/uploads/2021/09/2021-09-23-Placing-RNS.pdf

seems cheap under 20p.

I think there has been mad panic though, the fall is massive. Maybe Carnarvon have suspended so they can get out a more detailed announcement. If so this will double back up quickly.

i am unsure what to think. 12m of oil could be a decent result. But clearly it is not what was expected. We will find out soon enough with an announcement due from Carnarvon.

What am I missing?

Observations from Logging While Drilling ("LWD") tools have identified that the primary reservoir has been intersected, with indications of hydrocarbons as anticipated in the Elang.

The top Elang reservoir was intersected at a depth of around 3,338 metres MD, which was approximately 80 metres low to prognosis and outside the pre-drill range of expectations.

The interpretation from the LWD tools and drilling information is that an approximate 12 metre gross oil column was encountered. Wireline logging results will be used to determine the reservoir properties (porosity, net to gross) and to confirm a net oil column.

Is the market reading this wrong?

a nice 5m buy just popped in from earlier, just before the 2 x 3.35m buys at 1.3. Someone is keen. Its a pity there are still a few willing to feed the buyers with cheap shares.

Onwards and upwards tomorrow.

I think we may get another rns tomorrow telling us how many have signed the NDA. If all 6 do then we have a real bidding war and a great chance of a good sp.

3.35m buy just reported at 1.3p.

big buys coming in 1m, 1.25m someone is snapping everything up.