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£1.6 is an amazing UT figure for a company that should have a closing price today at £1.48 based on bid figure ! We shall see! I hope they don’t improve the offer and no takeover takes place ! That will be perfect for me!

If people (multiple entities) want to buy at higher than the offer price, that tells you everything you need to know about DNO’s derisory offer! Nobody buys knowing they will lose part of their capital! Nobody will entertain such a ridiculous offer!

Yes Adrian Historically the company has always issued a mid to late December update! They will then go into hibernation until March near the annual results. Read the previous preclose updates and see how much of their targets were achieved! Sometimes it’s lip service.

Someone has probably been “tipped off” regarding what is coming ! Nobody would buy that many shares at 6% above the offer price unless they knew that an improved offer was on its way! I’m tempted to top up also! If we get an improved offer and the price goes up then great! If the takeover doesn’t go through then I’ve bought more shares in a solid company that will give me multiples of today’s price in 18-24 months time!

Who are the institutions? When and where did they say it ?

Oneryan As Gooner mentioned, it’s a very risky strategy but it depends on how many shares you have at 15p. If it’s not too much you might be able to average down at 2P-1.5p to get your average down to 3-4p and potentially come out unscathed. If you need the money anytime soon I wouldn’t put it here ! This is now one for investors with patience of saints! Good luck

This is a £5+ share when they are pushing towards 35,000 BOPD 2020 onwards! Why would anyone accept anything beginning with a 1? Equinor also have a number of shared assets and are also cash rich! They have been buying assets across the NS recently! They are cash rich and can offer a decent premium! The only problem is that DNO own 28% so any other suitor will have to appease the remaining shareholders to force DNO to accept a potential deal! This is just starting to get interesting! Lots of buys still going through ! I would buy More myself if I wasn’t overweight here!

Volume sold : volume bought = 2:1

Adrian You bought here last week at around 2.75p+! today they are trading for more than 10% -15% lower! The problem CHAR have is that there are no near term price catalyst! CHAR are back to “fast following” ! Anyone investing in CHAR not knowing the implications of being a fast follower needs to do more research! Salaries will be taken and BOGOF shares will be accepted and in the meantime price will trickle down! Brazil is the only potential saving grace! If you can wait until 2020 it might come good for new investors! Anyone with an average above 8p will be in deep doo dah!

Yes mick I’m aware that they have been convicted of fraud! The most shocking part of Afren was everything happened at the wrong time! Overpaid for KRG assets , took on additional debt, oil price collapsed and CEO COO kicked out all within a few months! I hope they rot in hell

I agree ! But that’s not necessarily a bad thing as long as it’s at the right price 250p+ I wonder how long they will take before coming up with an improved offer !

Adrian On first glance it might appear that way based on 4 calamities by Chariot but there’s actually a lot of science to it (method to the madness)! The process starts of with the company performing regional geological studies They may choose to do gravity type surveys The company will typically do something called 2D seismic surveys over the acreage Based on the results of the above surveys, the carefully select (zoom in to areas) for 3D seismic surveys They carefully analyse the data and convert initial “leads” into “prospects” They study and high grade those “prospects” in terms of COS and select the best of the bunch analysing things like the potential for (trap, seal, HC generation, migration and reservoir) From what I understand a lot of analysis goes into location and prospect selection There were a few oily guys here and on other BB websites that’ll be able to explain better than me but hopefully the above gives you an idea!

Yes I partook in all investor calls! The problem is what the company says and does are 2 different things!

Thought it might be worth another punt / top up at 2P but I reckon 1.5p is doable (assuming oil doesn’t tank)! If oil tanks then 1p is inevitable! Cash is consumable and means nothing when you’re burins £5 million/ annum

LOL @ “ I gave him my Cats name”! When he was asking for peoples details I just didn’t trust him and decided not to join the cult! I wonder if he still holds any shares and will consider a new AIG? May be he sold everything along with his lord and saviour wheepo / spitfire at 3p at a +90% loss!

Albi Nothing stops them from buying more shares but they have to follow take over rules and declare when they buy more! Anyone buying on their behalf also needs to declare !

VERY ROBUST DEFENCE ! Based on the metrics they’ve used for reserves and resources it looks like they are looking for £3/share and above ! I can’t see DNO being that generous but at £2 it might tempt some instituutional investors who bought last year at 65-70p (3 bagger)

Making the comparison based on the price offered today for reserves and resources combined gives a share price of around 1100p for RRE! DNO have low balled FPM!

IvaP What did BMD do?

IDK May be they stopped sending him free chicken & chips on Tuesdays and pepperoni pizza with cheesy crust on Thursdays?