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As with many small cap shares, there is plenty of short-term money propping up prices.
I believe that has happened here.
The longer the silence, the lower the price will drift as short term money looks for other possible winners or sits on the sidelines.
Imo, it’s still too soon to consider topping up.
I often used to make the mistake of jumping in too early due, in part, to believing the rumour mill.
“Implemention” of flow-testing cannot be happening. There would need to be a further announcement — according to BOD.
A lower price can be achieved here simply by waiting for news of the “adjusted” (delayed) schedule as per RNS Aug30 and RNS Sept19..
I’m not wishing to deramp, more trying to “anti-ramp” and keep risk in perspective.
There’s a middle ground to be had here: Kieth has posted some useful info over recent months and have ticked him up when appropriate. Thanks Keith.
But I believe he is wrong to think there is any deal in the offing in the near future.
I feel it right only to remind people of the most likely reason for the weakening share price:
“The adjusted schedule for delivery of the Sandjet equipment is currently being put together by ECS and a further announcement will be made when this is finalised..” (RNS 30Aug).
We are still awaiting an announcement which must precede commencement of the all important flow-testing.
Until then, we have no way of valuing this company.
Looking forward to the abuse from little Pumpers and PG tipsters while continuing to keep powder dry.
GLA.
Bit of a guessing game going on here, with just a smattering of negative bias most of the day lol.
Until the official RNS is out, we don’t know how many days in August the wells were producing do we?
Have added a few on the dip as I’m sure a few commentators here have.
Waiting for, rather than preempting, news. Be greedy when others are fearful.
Tmhsdx6:
Not true. Learn to read.
Rule 1.
When losing the debate and with nothing to say. Attack the opponent and distract from the point being discussed.
…as many are doing for the forthcoming RNS annoucing an update for ‘adjusted equipment delivery schedule’.
Apparently there could also be some sort of deal announced according to one or two here.
Mind the gap. (Up or down?)
Bonne chance mes amis!
AIMO DYOR GLA.
For what it’s worth I too have been here for a few years now.
“ Would I prefer it if the testing has started or even finished? Of course but it's not something to cry about if it's been delayed ”
Shagged, thanks for your earnest response.
I agree with that. I if/when a delay is announced I will not be crying as I have reduced my holding until clarity arrives.
If/when the sp settles lower I will then top up again. Exploration is a long, long haul and expectations must be managed.
“ however long it takes”
Not sure about that I wouldn’t want to get stuck like Buridan’s Donkey.
All best.
WB.
*silverfoil13,
And, Silverfoil6, do you concede that the RNS also states:
“ The adjusted schedule for delivery of the Sandjet equipment is currently being put together by ECS and a further announcement will be made when this is finalised”.
Furthermore, the RNS of Sept19th states:
“Rigless testing programme being planned using ECS Sandjet perforating tool.”
Which I read as still being in the planning stage.
A little vague. Perhaps for good reason.
Hopefully we will hear something more concrete, more defined, on flow-testing schedule come Monday.
Stas20 - Funny.
This is the PRD bulletin board.
In answer to your nosey questions about my portfolio, I reduced my holding here because of the lack of clarity regarding the delivery of the coiled tubing unit which, we are told by Predator, is ‘required’ - as per the RNS 30th Aug - before flow-testing of the MOU’s can commence.
The RNS said that we were to receive an update once a schedule had been confirmed for delivery of necessary equipment.
It logically follows therefore that no flow testing has been carried out because we haven’t received an update about delivery of the coiled tubing unit. I try to skip over the waves of unmerited excitement and avoid being fleeced by sharps.
However I did wait until the market was closed before asking a pertinent question as
I didn’t want to undermine the game so, I reduced my holding again today to avoid likely disappointment on Monday regarding the flow testing.
Maybe I will miss out on an announcement about a sale, or a JV, or an apology for not correcting the contradictory statements to shareholders, us, who are financing the venture (hence no company debt) . But I think the odds are currently low as all still depends upon the data derived from flow-testing.
GLA.
“ but who really cares!!!! ”
EuroChamp6, I should think anyone currently invested in PRD “really cares” whether or not the flow-testing has started.
It affects the share price, you see.
While you’re here, do you have any useful information to add about the coiled tubing unit ?
We need that in order to begin the flow testing. The last operational RNS, 30th Aug, states that we are awaiting an announcement for the delivery schedule.
WB. .
*”The coiled tubing unit”, which is “required” for testing. Therefore we can only conclude that flow testing has yet to start.
WB
Meanwhile, Plenty of money to be made here in the traders’ foothills before Christmas (to help with winter fuel bills perhaps).
Talking of animals, ‘Schrodinger's cat syndrome’ - is a pumper’s paradise:
The coiled tubing unit is both there and not there. Lol.
Paul needs to open the box and furnish us with an update. I wonder why he has not.
And why the company has not responded to direct enquiries regarding specifically this uncertainty.
Meanwhile likely £16k profit “Been has been” nicked off the table around midday, early afternoon, (Look at the trading data and judge for yourself). 1.5M+ shares dumped during a mini pump for potentially c.10% profit.
Good work!!
“Zulu resumed operations with material fed through the newly installed and commissioned mill.”
: “fed through” not “feeding through”
Meanwhile (My caps).
“In the event that revenue generation is delayed for ANY reason, the Company may require further funding and, if the Company is unable to obtain additional finance for the Group's working capital and capital expenditure requirements, a material uncertainty may exist which could cast significant doubt on the ability of the Group to continue as a going concern and therefore be unable to realise its assets and settle its liabilities in the normal course of business.”
“Further updates will follow."
I bet they will.
Perhaps an HL glitch as now back to 0.75 - 0.9
Odd.
Interesting to note that in the last hour the buy/sell spread at Hargreaves Lansdown has widened to 0.60 - 1.10
Presumably based on derivative/ CFD/spreadbet market?
Every one of my buys marked as sells - dumb algo can’t handle volatility at all.
…..For now.
My Lowest buy today @ 59p.
Not the lowest but happy with that.
Now we can relax - decision made.
Welcome to the idiots’ club. Lol.