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Even taking the exchange rate and the 2 for 1 situation we are rarely evens with the US. If and when it gets bought out the price will even up. Shows what a nonsense Aim is.

Getting close to the level the shorts bought for😅

250 million barrels of oil in their ownership. At £70 a barrel. 100 million on the Ping deal at 18.75% license. Free carry to first oil. The other 2 license are on partnership deals at 50%. The Ping deal is signed off. Waiting for them to appoint an FPSO team. Another license also awarded. A third to come.

This market cap is an absolute joke. This CEO is the real deal. Delivering on time et he says. I will top up as soon as I can. Will look towards doubling my holding in the next 2 weeks.

They have to follow the takeover code. It's the law.

Not up to the board to have a quick sale. They have to open up bids to the wider market. Anyone can bid. Shareholders have to vote to seal the deal once the process for bidding is completed. Why would any shareholders vote to accept a low ball management bid?

My guess is that once Ping start the drill the sp will gain traction . Should see some uplift as soon as they appoint the FPSO team.

The CEO has over £6million invested here. Encouraging enough.

They won't sell before the LCD decision. That would be silly. They know that decision will attract attention and engagement from additional pharma wanting to bid. Chronic kidney disease is a huge market. Reducing acute kidney disease will be a real prize for big pharma especially if they can tie it in with a US healthcare plan, covered by US insurance. The healthcare industry will also save up to 35 billion dollars if they can achieve their aim to make acute kidney disease negligible.

Mangio61 what's wrong with you? The CEO has over 29million shares and is a guarantor for the Ping deal.

We ain't looking at a stalemate. The stock is drifting because volume is low. And yes, the mms will take it lower if they can. Yes, Aim is badly manipulated.

This particular stock will go up as soon as the market thinks a decision on the insurance industry coverage is due. The decision could come any time since the consultation ended in the 3rd week of March. Realistically it's more likely to take between 4-8 weeks. I want some more RENX for this year's ISA but I need to wait for either HARL or CABP to do their thing first. Expect there's time. If an RNS lands on Monday will just sell some other shares and buy more anyway.

Mikodox, you could be right. We could both be right. Once the reccomendation lands there could be more than one offer. More than 2 if you look at who is interested in ckd and diabetes 2. Astra Zeneka and Thermo Fischer have drugs for ckd. Eli Lily and others have drugs for diabetes 2 weight loss. It will grow like a snowball.

Will be the next substantial catalyst. Then they're likely to confirm the bid. It could come anytime. The consultation ended mid March. The US government have contracted for this test and the insurance authorities are already signalling that they are inclined to use the test for those eligible. Should triple bag at least imho.

Yeah, at least we've got some volume now. Mms should have rerated this though. Hey ho. We'll get a very good return here soon enough.

It won't do 34p today. But possibly tomorrow. It should never have got as low as it did. Institutional investors will start coming in very soon. Small ivestment funds first. It will do £2 before it gets bought out is my guess.

86.5 dollars a barrel is the price of Brent crude today x 79million barrels of oil is 6.833billion dollars. X 0.79 (dollars to £ conversion) is 5.398 billion pounds. X 18.75% (value of the license to ORCA) is over £1billlion.

The director's commitment as guarantor shows massive confidence that they will see this through. They also have another license which is also very valuable and a third license pending.

The sp is only a fraction of it's potential now.

Getting a bit of industry coverage.

Hi GW62, just checked Brent crude is 86 dollars today so I should correct that figure. More like £5.5 billion. Irrelevant really. They will probably get bought out long before they realise the assets. But still. 10.75p sp is ridiculous.

Yeah, picking up but still very low volume for this RNS. They've done the deal. About £9 billion of oil revenues for this tiddler. First part of the work is paid for. What more do the market want?

I expect it to start moving fast once investors start reading the RNS.

*rerated to 30p.

Zac says it should have related to 30p. I agree.