Member Info for TradingLad

I guess the way to look at it is by next year we want to be producing 10x what we are today meaning the hedge should account for a lot less of the income.

wwal17, you are correct though, he did lock in the gas prices as well, so not the worst move in my opinion, what he want to be doing is reducing the flood over the coming months and increasing the oil production, when he gets that fine balance then we should be laughing all the way to the bank... what will also get us laughing all the way to the bank is a few more bloody wells online and producing 1000+bopd

The Hedge details
Oil Fixed price - WTI Futures 207,123 BBL April 1, 2021 to December 31, 2021 $61.28
Oil Fixed price - WTI Futures 384,187 BBL January 1, 2022 to December 31, 2022 $56.58
Oil Fixed price - WTI Futures 416,772 BBL January 1, 2023 to February 29, 2024 $52.87

What’s their oil hedged at?

given that we have to churn out 384,187 barrels of the black gold before we start seeing the astonishing returns that these current oil prices could deliver I'm not super excited about our share price going north anytime soon... I am however extremely anxious to hear about the drilling campaign so that we can produce the sludge faster to get our a$$es over the line faster!

What RNS was it in that AM spoke about the oil hedged price? I'm sure you're right, I was just wanting to do some digging on how long he hedged for, I thought it was only a few months but as I type this I seem to remember it being something ludicrous like 1 year...

Remember that 60%+ rise the other day that looked promising… #gonefishin

second bite, someone who has confirmation bias

First bite, someone has overstretched themselves in this :D

This will definitely fall further... no II is going to look at that RNS and think to themselves, this is a safe bet whilst a war is going on. Regardless of how good the companies potential is, II's will look at this as war profiteering and will be out like a light! You're all looking at that RNS and think it will be fine but I'm looking at that RNS and thinking (to quote Stewie Griffin) "something still don't sit right with me man, something don't sit right"

This will be worth a buy at 4p ;) :D

summer'23 maybe

sounds like a direct quote from Mighty Duck: The Game Changers

I appreciate the reminder... better go get some garage flowers

is crashing and as always we have the naysayers on here thinking their investment is dying on its arse... Has nothing to do with an imminent world war but hey I'm sure that potential war is Arts fault as well :D

So as any seasoned poster on this board knows, my opinion is worth more than most, why? Because I took the time to put "Trading" into my username, now that we're all in agreement, here's the issue, thats not really an issue:

Nothing here is bad, the CEO of an oil company decided nearing the end of a tax year that he was going to allow himself the option to buy an additional few million shares, after making a discovery that could quite frankly turn the company into a multi-BILLION pound company do any of us actually grudge him that? I don't, did he get lucky? quite probably but so does every phucker that wins the lottery so get over it, he's the man in charge and he can do anything he wants as long as the board approves it, don't like it sell up.

HOWEVER, with that being said the better thing for him to have done here is to actually have set the buy price higher than what it's trading at, the only issue here is that he's essentially given permission for traders to trade it around the current market price making a few percent here and there for probably the foreseeable future, I don't think it's market manipulation I think its just foolish on Art's part but it is what it is and if you're a long term holder like me it really doesn't matter

TL

The market can think what it wants about Art, and this not me defending him, but he did just spunk 200k on shares, I wouldn't have been doing that if I had any plans to dilute in the near future.

I hope it stays down here for another 12months!!!!!!!!

I will be absolutely MINTED if I can buy at these levels monthly for the next year.

HAHAHAHA

So what you're saying is that someone selling, which they are perfectly entitled to do in an open market, is causing this share price not to rise? You must be joke? That couldn't possibly be the reason? Surely not, someone doing exactly what they are allowed to do on an open market is having an effect on the share price???? Well I never, let me just give Warren a quick call to let him know that buying and selling a share has an effect on the share price... THAT WAS COMEDY GOLD

I like to pop in here a couple of times a day to lighten up my day by reading the conspiracy theories that are going on.

I'm honestly cracking up at some of these comments of people desperate for cash :D :D :D :D

what are "they" manipulating?

This is an unloved undervalued share, if you think it has potential just keep buying it while it low, I am.