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This should be followed by positive RNSs of a) granting of Ombrina Mare production concession b) update on 3D seismic interest from other parties c) general results update which should propel the share price further imo

Hopefully one day, cigarettes will be classed as an illegal substance and the tobacco industry will be no more. Of course it won't as the government makes way too much money from the millions of cigarette junkies.

This share price doesn't correlate that closely with FTSE and if you're waiting for sub 10p I suspect you'll be a long time waiting. Meanwhile I'll be waving to you as the sp sails away into the multi bag sunset. Just my opinion though.

Im in XEL, SOLO, ORE and MOG

When some significant good news eg granting of Ombrina Mare production concession, farm in agreement with partner(s) is announced the sp will go up and fast. I'm not against technical analysis as they have a very sound mathematical basis. Im a Physicist with a background in industrial statistics so i get it. I just don't think day trading is a good strategy for a share like this. For one the spread tends to be quite large and after adding dealing costs you need a 6% rise just to break even. You need to take a Warren Buffett view - undervalued share, profitable, good assets, good management team. I think they might be on a bit of a roadshow just now to attract investment partners. Will be interesting to see what comes of this.

andminutes and it's heading North again

See GaryMegsons link to roadshow presentation. All it will take is positive news from any one of those plays to send the sp into the stratosphere IMO

I think we're in agreement about being bullish on this stock. This is just a small pullback. Technical indicators have their place especially in day and short term trading but the significant rises and pullbacks on this share won't be on the back of technical indicators. It will be on the back of significant RNSs where the sp will rise by tens or hundreds of percent in one fell swoop. I think we're violently agreeing.

You guys with your tech analysis indicators. You are funny.

It's no surprise that the share price is retreating a bit after the recent big gains. However, it's a long way off it's 50p+ from a few years ago when it was in nowhere near as good a shape as it is now. I saw a lot of buys coming through at th current share price so I think there's a lot of tree shaking and accumulation going on. I'm holding tightly onto my shares as I'm sure this will, over time, turn into a multi bagger. Now we're just waiting on the granting. The Ombrina Mare production concession to lift the share price to the next level.

I agree and I've just topped up too. It feels like the MMs are deliberately tree-shaking just now. Anyone who's done their research can see what a massively undervalued share this is

They'd have been just as well not announcing anything as far as the market was concerned

Is the 3% a tax on profits. If so it's not that much really.

I take it from the sp that this news is being received as a bit of a non-event then

Ive got a small stake in XEL at 77p just now. If we get a multi bagger I'll be taking my original investment out asap. Don't think well see much movement until Production concession granted

I agree with 100p short term as the company is way ahead of where it was before the fall from around 50p. Not sure about £16 though. Maybe £5 eventually but who knows

Do you think that the granting of the concession will be the trigger for a significant rerating? It'll be interesting to see what develops from interest in the seismic data desk in the near future

Liberum Capital was hired by MOG to be its nominated advisor and joint broker so i wouldn't pay much heed to this upgrade

If the ability to progress Ombrina Mare is pretty much a done deal, why is the share price not 50p+ (as it was before the big spill). Any suggestions?

Thanks Gary