Member Info for westgate

No raise

Wire logging results prove commercial

JV deal provides funds

Rapid drill programme

Producer

???? ?? Who knows…

Market cap best way to value company (not sp). Still high risk as far ii’s are concerned. M//C still sub £100m. Potentional needs to be confirmed by RNS results of logging. Pi’s take the risk by buying in before to get better returns. Once M/C increases, ii’s will get involved and sp will hopefully go exponential as share liquidity decreases. I think 3-5p pre-news is realistic.

Shares coming onto market today. If the price drops, I expect that there will be a lot of buying from people topping up at bargain price/averaging down, new money etc and the new shares will be mopped up quickly.

If production is 900bopd at say $70 (arbitrary figure) that is $22m/year. So why is mc only €10m? Genuine question … Gla

Lots of research by many posters all much appreciated. I think for me this has become a simple punt. If you believe that an rns is imminent (licence and production this year) then this is the bottom and a good price to buy. If you believe that the next rns will be poor (no licence and/or no production this year) then it’s worth waiting for a lower price. There is no evidence to suggest which it will be its pure speculation. I think the only certainty (if there is such a thing) is that there is oil there and it’s just a question of when. I have reduced my holding significantly since the risk of failure this year has increased for me. Whatever your decisions are, good luck

I was referring to consolidation of the company (as per rns wording), not the sp. The consolidation phase has naturally caused the sp to drift but puts the company in a stronger position to grow the business

Fully funded from production. Five gas wells to drill…licence pending but expected in ‘the not too distant future’. Period of consolidation has stagnated sp. Oversold and hope this is the bottom. GLA

I use council tax bill. Comes as an attachment on an email which can be used without need for scans etc and not a big file to send. GLA

Irrespective of the current sp and the fluctuations around it (note reported buys and sells are pretty close), what we have here is volume and sentiment which are good drivers. Sustained news flow is now the key. GLA. Westgate

I agree that the share price has been stagnant here for a long time. What i hope that I am seeing is a bod that are putting the building blocks in place so that when production begins, there is no fall back whilst we wait for the proverbial pipeline/processing plant to be built. Yes, deadlines have been missed but I think that the process of building a quality mid-tier oil producer will inevitably encounter snags. However, it is my opinion that the bod are dealing with these in a highly professional way that ensures both a safer investment for share holders and potential for a sustained and ever increasing rise as wells come on line. Some news soon would be nice though!

I understand that people might need their money, but when the share price was over 7p a few weeks ago, why would anyone sell now when we are on the cusp of news? I’m still holding and if I had the funds, I would be buying more and taking advantage of this drift down. First rule of dealing obviously, buy low and sell high…unless folk are getting cold feet but the company’s record inspires confidence

Question I have always wondered having never been in a stock that has been taken over: how does it work? If a good offer comes in per share, does everyone sell and the price plummets…or do existing holders get first refusal? Would appreciate any guidance from thoughts in the know

Nice RNS inspiring confidence in bod…another building block in place into what is clearly a coherent plan to build the company into a much larger entity with added value to share holders. In good hands with CH I think who knows exactly where we are going and how. Relaxed about the updates to follow. All appears to be well

Tight spread interesting. Hopefully buying going into end of week. So much news due…

Warrant shares hitting the market about now. Not a vast number (circa £450K) but increases liquidity and may explain the stagnation in sp. Main thing is that they are director buys and that is surely a good sign from those in the know

Would it be that this information could be construed as market sensitive and require RNS’swhich are hopefully in the pipeline? Webinar can then follow with the detail

I am not understanding the lack of volume here given the propensity for potential news in the very short term…

I think it is important to note that the infrastructure has gone in/been purchased prior to the drills, and this provides significant comfort to investors in terms of the company’s confidence that the drills will be successful

On the 7th, MB stated CPR in the “next few weeks”. So far, it’s been 3 weeks 3 days…for my money he’s still got at least another 2 weeks of grace to be on time. The resource is there, fact…the only question really is how much is there. The so called delay is for me, a good sign and may well be justified by some of the very realistic theories that have been forwarded by other posters. The bod have not disappointed so far in the professional way that they run the company and I don’t see why they should start now. Delays in AIM stocks are rarely a good thing but my gut tells me that this one is different. Here’s hoping!

My take is that if good news had been released before the placing, there would have been accusations of pump and dump. As it is, if the placing is voted through (likely), the path will be clear for further positive updates regarding current production and revenue. I believe that this will in turn lead to a steady and sustained increase in sp which is infinitely preferable to a spike and drop. Good management if true.