Member Info for Urraca

Is the breakout finally starting?

Fair point Maestro, they don't announce the Rabul spuds do they. So the result will just pop out of leftfield one day and catch us by surprise. Rabul alone has added around 20% to our annual production, hasn't it? I can't see anything holding us back from doubling production this year, possibly more. And with the oil price where it is, the cash must be flooding in.

Maestro, I'm not sure they've spud Rabul 4 yet have they? Thought they were going to complete Rab 5 first? Still plenty of on-going activities across the various fields.

A week of continuous rises. Can't remember when that last happened.

Marshall, are you struggling to see value because you haven't done any research? Of course the end game is to sell up, once they've proved up what they've got. Always been very open about that. And on further fundraising, they're negotiating a farm out, which is very close to being finalised. Even the most cursory research would have uncovered this. What valuation methodolgy do you use? Because to me, this is trading under NAV as it stands now, with nothing priced in for prospects. Any good news whatsoever will see this rerate up sharply.

I did wonder if the price is reflecting people starting to take positions in advance of the Ibn Yunis testing, although that's still a bit off according to the RNS. It certainly seems to have been good enough news to persuade the seller to pack it in. They seem to have stopped anyway, which is producing a slow and steady upward pressure. Bout feckin time.

Could land tomorrow

Now now Tele, I'm sure Maestro just left a zero off by accident. Looking very positive here. Let's get a good result from Lalla to keep the momentum rolling.

Don't forget this powered up strongly in the last 5 minutes trading yesterday, and the ut at 23p was unexpectedly strong after that. We are trading well above where we were most of yesterday. News could drop any time, so strong trading into the close in possible anticipation is to be expected.

M7 pud, i respect what you say, nd the loss of value from the heady highs has been significant. But...it hasn't been unalloyed bad news. They have found significant quantities of hydrocarbons. And the are producing in Tyler and VOBM1. The difficulties have been in producing from their wells, and to an extent their problems have been caused by factors outside of their control. The current massive sell-off has taken the market cap below NAV, and is discounting any possibility of future prospectivity. So, it might still be a rocky road, but you must think this is a good entry level or you would have cut your losses and moved on. As for Mr Positive, that's just how he rolls. As any investor with a scintilla of nous knows.

Just clocked TSX. Only $C1.03 now. Still over 57p. Fab.

23p ut closing price. I was hoping for 22.

Shorters bought back as many as they want for now, so no need to hold the price back to give them a good rate any more. Looks to me like around a quarter of the shares in the company have been bought in the last six trading days. Lot of new holders here now at around this level.

Made it on. Let's see if it sparks some interest. Still good upside here, potentially massve, dyor.

But gherkins, you were giving a target price for this company of 25.5. Just a week ago. That's a clear 20% upside from here, as far as I can see. Why the bitterness?

Hi Shaun. I'm not Moses, but my thinking goes as follows. The stifel recco is an upgrade. They previously had PANR as a sell. They are calling the bottom. There will be further revisions when the price stabilises. The call that this is the bottom means that shorters will be covering their shorts. There is now a greater risk that their profits will shrink on share price recovery, than that they will grow on further falls. Covering shorts is an 'every man for himself' game. And we saw that some shorters had started to close their positions last week. So, short covering itself will generate buying pressure. Most panic sellers have cleared. Result, sp goes up. Add on to that we could get news very soon re farm in, resumption of well testing, or several other factors Malcy covered in his blog, and which I'll asume you've researched off your own bat. The sell off last week was exceptionally ferocious. PANR still have assets. If you think their net asset value is still lower than the market cap, then I'd advise you not to invest here. If you think differently, then now might be a great entry level. But no-one knows for sure where the price will go next. So it's up to everyone to make their own decisions of where to put their mney.

They're working their socks off to get some positive news out this week. For Beetham, my only question is, what's your target exit price, mate?

It's been a lng time coming. Hopefully this is the turn. Ibn Yunis should be something if a game changer. Even if it just helps prove up 150bcf, that's a lot of volume. I'm hugely interested in seeing what they say when the testing's done.

The heaters should already be there. I'm not sure how long they will take to fit, and then unfreeze the well, but it could already be back on test. So there should probably be an update of what's going on next week. If they try to find and plug the frac that's let the water in, this could take longer. If its even possible. If they do get hydrocarbons flowing though, that would be extremely good news.

Actually Kinza, I have a third choice. I can continue to hold, which is my plan, and I can continue to whinge, although I'll have to up my game a bit to hit the daily target. For god's sake man, I'm British. Whinging is what we do.