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let's have another go at 10.20p tomorrow still knocking that door is proving strong

short term targets once we break clear of 10.20 resistance is up till 13.50p......

can we break 10.20p in the afternoon..........

Looks like 10.20 is a stubborn old goat, let’s hope it breaks that wall today ;)

As per the charts we can break 10.20 we are off to the races.

I am expecting Petronor to buy our stake pretty soon should be the next news.

Zengas - any idea on timescales on cc closure to be fair I was expecting it by now. I always look forward to you Africa intelligence articles in hope that a confirmation confirms through :)

Agadem - Any word on the street from IR I was at least expecting a lot of other operational news whilst we wait for cc closure ?

Nope there is plenty of support at current levels so can’t see it going much lower, if anything it will continue to consolidate at current range, until the up trend. Charts is a bit like numbers they can be good indicators, the only time they can work against what you is if the company was to release detrimental news like extreme share dilution or failed results neither of which are a concern here in my experience these are the only times that charts have failed me and historically the uptrend should start in the first 3 trading sessions from confirmation. If it doesn’t that it tends to consolidate at same levels until the confirmation signal is given. As I said price action is as much as to do with charts as it is to do with fundamentals. Initial moves are always started of from technicals with bigger moves than fuelled by fundamental news from the company adding to the technical move on the upside. They both work in harmony. A lot of the times people miss the first few percentages on a uptrend as they are waiting for the fundamentals to drop which is fair however if they looked at the charts also they could also gain those percentages on the upside. They work hand in hand I am a firm believer of fundamentals as I am in technicals and highly use both.

We have been in consolidation / accumulation phase last week. By technical perspective I mean charts, if we can break the hidden resistance of 10.20p tomorrow we will easily see 13.50p on the charts as there is very little resistance between those levels……….. If I can get a few more before 10p tomorrow morning I will do my final top up before thie imminent move

Currently on oversold territory and purely from a technical perspective alone we should see 13p this week, I am fairly confident however if we get some news then who knows we could see some more price action............

Expecting a breakout to the upside from this range in the coming week…..

Anyone knows what our next news or milestone is ?

Fully expecting us to climb from current levels next week short term think we can move to 13p minimum at least and build from there

I think we are likely to see 20p in the next few trading sessions.

Could easily see 25p recovering nicely

https://www.africaintelligence.com/central-africa/2022/06/28/paris-to-give-e15m-to-chad,109795522-bre

Interesting could this mean that they are happy to only receive 15m from exxon and the rest will be from IMF ? could mean that the deal sign off can be imminent

Perhaps if there are any gas fields near accugas infrastructure that we could optimise cheaply and quickly would be ideal

Some of them are quite sizeable if we could get our hands in the larger fields.

“ The 57 marginal fields have over 800 mmbbl oil and 4.5 tcf gas in reserves. Between the 57 fields, the 25 largest oilfields have the potential to unlock over $9 billion of investment in the first five years of operation and generate over $38 billion in lifetime revenue.“

https://www.in-vr.co/amp/nigeria-how-marginal-fields-are-generating-new-opportunities

Agadem - agreed don’t think we would have unless there was a marginal field available that was truly scalable and valuable that could produce 10,000 Bopd plus for a minimum 10yrs at least. If I am not mistaken marginal fields are smaller but I could be wrong as I am not sure what would typically be classed as a marginal field in Nigeria. Is it based on reserves or potential production scale ? Either way it would be interesting if there were any of size which we could potential applied for ? After all we have proven to be a strong partner of choice for the Nigerian energy sector

Anyone think we could have tried to apply from some marginal licences ?

https://www.reuters.com/business/energy/nigeria-issue-marginal-oilfield-licences-next-week-regulator-says-2022-06-25/