That spike was like firing off a flare getting people’s attention. It’s good to see new people in the chat and I’m sure there’s many others who don’t post but do read the chat waiting for a good time to buy in.
That spike was tiny compared to when it’s official. Except when it comes back down it won’t be down here, we will still be bags up north to current price.
“Recent drilling adjacent to PEL 112 has resulted in 20 of 27 wells drilled successfully with initial production rates ranging up to 3,000 barrels of oil per day. In 2008-2009 alone, eight new oil fields from 30km to 12km from PEL 112 were discovered containing from 1 to 11 million barrels of unrisked in-place prospective resources.”
“PEL 112 and 444 enjoy access to nearby equipment and infrastructure such as a network of pipeline, a central processing plant and three major seaports. The access to this infrastructure provides a short and less expensive route to market future discoveries.”
Can see the appeal and yes what a bargain when you think about it.
Half the people on AIM don’t care about any of the companies they buy into, they just hunt for one that has news, buy in, hold for a bit and sell in profit then looks for the next.
Money made yes well done but it is that action on a large scale that is making it more and more difficult to invest into small companies.
Unfortunately we have no choice as we aren’t big enough to be in one of the FTSEs, but I will ask Joe if he will put us into a different market if we do get commercial flow in Cambay, as we should have a big enough market cap to qualify.