Member Info for Zebra04

Yes it can help u get a feel for the market makers and how easily it will move in either direction. However Mms still play unfair and its not always helpful.

The 2nd 500k sell at 1.80 will get deleted. It was 1.725 to sell and 1.95 to buy.

They're still trying it. That 10k sell is a buy.

I think the futures market turning negative has forced more producers globally to cut down production. Hence the small recovery.
The 9.7mil opec cut comes in effect 1st May. Although not enough, alongside the forced closures due to prices it should overall help spot price of wti/Brent. A

Stateside if congress allows then trump can add 75mil barrels to thier strategic petroleum reserves. This is important because that is the entire capacity at crushing oaklahama which is close to filling up.

The negative prices were neccesary but overdone to wake the sector up. Those in Congress blocking trump filling thier reserves will also have took note.

Short term oil is still volatile. Dyor.

Today was Mms picking up shares. The last 500k sell is likely Arato. They do seem to sell once or twice a day.

The rest all seem like some retail investors who unfortunately panicked today and sold.

The 1.8 ask was taken out easily and now its one left at 1.9 then its back to 2p ask.

Mrmm I hope you've calmed down now?

Yes I did post that on the board when I was frustrated. Once we received the updated I took that back.

Lvl2 certainly helps get a feel for the market.
If you ask, someone here is usually happy to post lvl2 info.

I can understand the frustration but we should try to take a step back and remember why we invested. Wti up 20% now.

Up 16% now.
So a few more buys and this will tick back up. 1mm is at 1.7ask and 1 is at 1.8ask. The remaining 4 are above 2p ask

Oil just jumped up and us future turned green. Mrmm you have more shares than me and you can see for yourself the Mms are happy to takes those off you at 1.6p.
We don't intend to sell next week or next month. The company is still very early days. So why stress over a 12% fall?

Mrmm let's not turn on one another. You're here for the drill like myself. So enjoy the sunny day.

If goes sub 1p I'll just ride it out. Not going to sell just because red days.
Looking at the sells today it looks more like personal investors and not the lender. Lender tends to sell in rounded numbers. 200k 500k etc.
Mms dropped and retail investors fell into the trap and sold at silly prices.

I've seen this happen a lot of times. Mms will drop it to pick up shares as folks panic.
Here for drill so not too worried what happens between now n then

For what it's worth I can sell 900k shares on a single trade but not giving away my shares.

We've been here before and it'll pass...

Sucks though in short term

They have managed to do it. Both the may and June contracts are now trading around $12. July contract is trading at $18.
We held up surprising well today considering all oilers are down.

Now down to $14 for June contract and a cent for may contract. because of contango the funds will have to rollover. So sell their may contracts and purchase June contracts. Hugeee losses for them. The lower they can get the June contract before close the less the bleed for them. Going to be a crazy week for oil prices. Hopefully it will force more countries to cut production.

Glad we have 3.5mil in cash and we are not producing yet. Switching off wells and finding storage is not easy. I'm happy for us to prove Trinidad works then just pause till oil back over $30. Cerp mentioned they had storage space for saffron. It would make sense to store the oil from the pilot there.

WTI June contract is now at $20.17.
Gas is at $1.91. The reason gas is doing better than oil is that gas prices have been suppressed the last few years as shale production has increased. Gas is released when they frack so as the shale drillers pack up gas supplies will drop.

@middleeast some form of us production cut quotas is the positive spin the market is looking for. Texas railroad commission will provide thier update end of the month.

Its partly why wti decoupled from Brent when opec+ reached a deal.

Our run rate is peanuts like mrmm said. Small wages for a handful of staff. We are not one of the debt ridden oilers and neither do we need to immediately produce and sell for a loss.

@k3yersoze
Yep double digits and we're all laughing. Gas is up 11% today and 20% for the week. Both our lage projects are gas

I'm on 900k shares at an average of 3.6p. So you can imagine how much I'm down. You new shareholders weren't around when these were cheap at 6p lol. Most of us held averages of 6.5p below the placing and corona.

Not worried though as my target was to get my average below placing. The company is sound and will survive this pandemic and I was able to build up a sizeable holding at bargain prices.