Good news on the share price, but wht aren't the warrants following the trend upwards.

The strike price has been reached, and the last time this happened the warrants
were trading at 7p bid 8p offer.

Hi ST, Something is puzzling me? EOG sold 256 bopd in the uk in 2005 at an average price of $46+ per barrel, but it's sales/turnover was only 2 million+ pounds.

Could you please explain to me why this is? you would have to do the maths to see why i am puzzled, because the figure should be a lot higher.

I know there are 2 wells and one is only 65% interest.

Barclay, did you remember to divide by 1.85 or thereabouts to convert from US$ to ?

Yes, and it came to 23 million pounds, which if my bookeeping is correct
means that is sales/Turnover before cost of sales and depletion.

How do they get the figure of 2 million+

Barclay, according to my maths, (256 * 365 * 46) / 1.85 = 2,323,372.

I think you're seeing 8 figures where there are actually only 7!

Easily done -in the bank we often scribble the commas in on print-outs to avoid confusion when breaking down the maths! (especially when we're transferring billions :o) )

Thankyou! you're correct, i'm just trying to calculate this years oil revenue which
all being equal should be a lot higher based on same barrel output and higher
average price. More like 3.2 million pounds in 2006.

The results are out next week, i hope they are a bit better than the market expected so we can get those warrants moving. Good look!

Worth buying a few warrants ahead of the results?

They've lagged as the shares have risen - fair enough as they were overvalued.

Now look fair value and with any further rise in the share price with the warrants staying put, very good value.

50p target for the shares means 20p at least for the warrants - and that is if all the time value goes. More than 20p if it doesn't.

I hold them. Will be just my luck if results disappoint, but they shouldn't.

More than the results for last year, we want the gas to be flowing in Romania, and lots of it!........ Then the shares will move imo.