Member Info for Treadstone

As you say. Very good news in todays RNS. Sp continuing to tick up and better trading volumes as well. Look forward to independant audit of Asha reserves coming up. Unable to find any news on Cormorant Alpha regarding repair of leak and when its due to resume pumping oil again.

The silence is deafening around here. Hope we are poised for better times.

Interesting report. Edison will come up its valuation later on it says. Better still it states that Bridge is trading at a fraction of Faroe Petroleum and considers Bridge a most exciting E&P play. If only the market would react positively, however it seems to accent on the negative side of things such as the shut down. In time the market will right itself I'm sure.

You might as well ask how long is a piece of string. Analysts have valued this company at around £2.38 but the market dictates the price and sentiment plays a part in the pricing. Suggest you look for any analyst's review of bridge, where they normally explain the calculations they have used to get their valuation. I suggest you then read the recent RNS summarising Bridge's current drilling operations. Its very positive and there's every reason this year should see a better sp.with further good results. However there are the usual caveats . Market volatility, the oil price and events in the wider economy that can upset the applecart. I'm in here at £1.39 a share but I believe the pull back has been unwarranted. At the same time you have to take a medium term view of your investment here imo. for it to pay off. I will stick it out for a few years at least purely on the basis of the busy nature of the drilling programme. Few companies are as active as Bridge and if the success rate continues things can only get better here. Furthermore we are involved with Norwegian operators who have an impressive record in the North Sea. Norway has large reserves and has done better than the UK in that respect.

Thanks for that RNS link by the way. It neatly sums up the reasons why we should be invested here.

Why should a move to the Oslo Bourse affect what happens on aim? What might of happened was a small golden hello in the form of a tick up in the share price in oslo, based on more tracker funds picking up stock in Bridge. Somehow I doubt that the market works that way over there, unlike a move from the ftse250 to the 100 index. Nevertheless a move to the Oslo Bourse must give Bridge added weight otherwise why make the move. We are just following Norway where the turnover reflects a greater interest in Bridge. I'm quite happy with that but frustrated that investors on this side of the North Sea don't seem interested despite positive analysts views on this company's prospects. Perhaps a mention in the press at some stage will bring more people on board. I just think this company is under the radar. I'm sure the BOD must be aware of the low volumes here and maybe a London presentation would'nt be a bad idea if they want their UK presence to be a success. A little bit of publicity and self promotion might help.

From what I read in the presentation a while back, was that Bridge expected to break even ie production paying exploration costs by 1916 not before. So just as you said. I could throw in the point that Bridge is at least a busy company with much activity and newsflow. Furthermore we are partnered with talented operators and have 3 strikes out of 4. Many a company have had nothing but dusters in the North Sea (SQZ) so we are doing ok all things considered. Continued success with the drillbit hopefully will garner the company with some press attention. Perhaps that will help up the trading volume on aim which is pathetic compared to Oslo. Not even an analyst's prediction of £2.38 a share has raised a flicker of interest in this stock. Will hold after the recent sp pull back, as I believe the fall was unwarranted after the Asha Noor announcement of a find. But that's the market for you . Tricky to say the least.

I agree the volumes traded on Aim are pitiful which is why the spread is high. At least the sp is to an extent largely controlled by the Oslo bourse where volumes are higher. However bigger volumes obviously don't mean a rising share price, which with an energy explorer is driven by news. Unfortunately the initial Rns' concerning the PL457 drilling at Asha Noor painted an indifferent picture of events that in a nervous market led to a quite severe pullback. With the latest positive update on the find that fall would appear to be unwarranted. With todays news and more upcoming drills in 2013, I'm hoping the situation will start to improve. Analysts expectations of the share price reaching £2.38 is not one I entirely trust, but I do believe continued success with the drillbit will lead to better days. Further success will bring greater attention from the media and hopefully better trading volumes in London. Events in the wider economy will of course continue to make the market volatile.

Merry Xmas and thanks for all those who have contributed to the board. Hoping for more success withthe drillbit and an improving share price in 2013.

As has been said preliminary RNS on results from PL457 were somewhat negative to say the least, which in my opinion led to an unwarranted fall in the sp. Yesterday's news coupled with today's directors buys hopefully will reverse the situation. Three strikes out of four in the north sea is a good record. It just shows how nervous this market is in the current economic climate. Will hold and watch events. More success with the drillbit should see this stock move up.

A strong positive RNS with more to come on PL457. All we need to know is the daily volume after testing. Will check into Oslo price and volume at the end of the day. Looks good and makes me wonder why the share price has fallen back so much. The only conclusion I can make is that the tone set in previous RNSs was not very upbeat. As it is the 20% value to Bridge of the reserves as stated is worth a fair chunk of the current sp with more possibly to come with further drilling. Then again how are oil& gas explorers valued by the market. Can any of you assess a fair value for Bridge with calculations please?

I will probably hold because I don't want to sell out at a loss yet again. I understand your argument about good investor relations but the share price graph is heading down because its drilling results that count and not much else. Smooth positive presentations speculating on future expected returns to match drilling costs by 2016 are all well and good, however there's the obvious risk that the expectations may not be met. If so cash burn inevitably becomes an issue and confidence slips. Its early days but only a good result will improve sentiment here .

As you say this share price is directed by trading on the Oslo bourse and the market is quick to punish share prices when it thinks something is not going to pan out, but we'll know soon enough if the hydrocarbons at Asha are commercial or not. I bought 7000 at 139p on the strength of the presentation, good licences and low number of shares in issue. This is a volatile and difficult market, but there is a fair amount of exploration drilling ahead and more opportunities to make good finds. Timing in this market is key and I have to admit I got it wrong. It may take ages to get my money back or maybe I won't be able to do so. However if pl457 had come in strongly we would not be seeing the sp at this low level. My main fear is the usual one of funding and some income down the line is essential to cover the cost of exploration even if Bridge is ok for a while. It does'nt help matters either issuing a share option RNS at his juncture

Inclined to agree. Bought in too early based on a positive presentation and should have left it a while. Market not confident of a decent result from pl457 side drill. Hopefully upcoming drills will be more successful and will help the sp to recover next year.

Need some positive news soon as share price is retreating for one reason or another.

Thanks for your posts and sp hopefully heading for a steady recovery, Cenkos mainly repeating company prognistications in the oil barrel conference, then again any publicity helps. Volumes low as per usual.

With the potential of further upside from additional prospects on the licence in addition to the good news today. you would think investors would be pouring money into this stock. Yet volumes remain low despite the recent fall off in the sp making this an attractive buy in level. The only reason may be lack of clarity yet on the multi reservoir PL457 drill where Bridge has a higher 20% interest. I'm hoping as Bridge progresses on its numerous North Sea licences, that it attracts the attention of more analysts and in particular the media business sections in the press. Further success cannot remain under the radar forever. At least the sp is ticking up bit by bit driven by greater volumes on the Oslo exchange I hope to see one day replicated on Aim. I bought at £1.39 based on the presentation and perhaps should have waited a few months before diving in, as the Axess charts show a very volatile trading range over the last few months. Then again hindsight is a wonderful thing. However I plan to take an investment strategy here rather than a trading one unless it spikes upwards too quickly at some point. Some cynics argue that an investment strategy is just a trade gone wrong. I agree to a point, where an exploration company has only one drill coming up, is waiting for a farmin and the share price languishes for lack of news and activity. Bridge however has a busy program as a farm-in partner on mutiple prospects with a steady flow of news as drilling activity remains strong as per the presentation. This is not a one event company and that should materially improve our chances of success over time. An offshore version of MAGP if you like, but that's only a rough comparison of strategy. Thanks to you and others for your informative posts.

Just 2 trades so far if the volumes here are correct. 8 shares then 500. Sounds like mm signals to me. Either that or fat finger. Worthless buys imo. Just shows how this market is drifting.

Yr post 9.42. Maybe, but then again I doubt it. We have 20% a much larger participation which naturally heightens the risk /reward nature in oil exploration. So we have inevitably taken a largish knock here from perceived negative news. However further testing may present us with something positive on the current reservoir. When that's out of the way, there are other reservoirs to explore that may give Bridge the yields its looking for, so there is plenty to play for on PL457.

Thanks your reply 12.56. I see the market is not taking into account the tax refund. A 78% recovery in Bridge's exploration costs is very significant. There are other reservoirs to explore on PL457 and no reason to think hydrocarbons won't be found. Will have to wait.