.

And don't forget SB companies ARE the market - they make their money initially on the spread.

The spread however is normally very small, with equities however you pay to trade so very much like for like.

very heavy traffic today, but after a reasonably bright start, sp is falling away relatively sharply ..... that does not necessarily mean that bad news is in the offing and has been leaked to the privileged, but worth watching nevertheless

Had a sell order placed this morning for part of my holding @85

L2 buy orders now outweigh sells but not by much (250K), vwap sell 97.3 v's buy 71.65, was hoping we'd hold above 80 this morning.

Rumour is being spread (by not in the know people) about technical problems and having to re-spud.

Could well be just like the RKH "heavy oil" lies....... simply a way to make shorters some money, spread some lies and watch the muppets sell.

I've not heard any rumours. We're halfway through the drill so expect the sp to be volatile due to no news. This is normal behaviour, for an oiley with no producing assets and limited funds/chances of sucess.

I did watch the rig (on Marine AIS) move 20 metres or more due south away from the dill site last night, and its been parked there ever since, still in same location.

That suggests there could be some issue, normally the rig stays within 5 metres of the drill site but it clearly moved due south last night.

Maybe so, I'd expect an announcement if a re-spud was definatly on the agenda though. Possibly just realigning the rig mooring, lets hope theres not been a problem with the risers.

or perhaps discussions with HMG are ongoing?

I strongly advise a punt on PVR or LOGP and SLE as well as these....

A summary of the rumours is :

16th Feb BOP issues (due to broken connector) drilling stopped - LE moved away from drill site.
BOP bought top side to be repaired.
29th Feb BOP fixed and re-entry done after 13 days on not being in the hole.
1st March Well stability problems, drilling stopped again, LE moved away from drill site.
Weekend of contemplation ongoing as to next step.
Could be a sidetrack or a re-spud. Next news will reveal the delays and what is happening next.



And that is the summary of the rumours - it will be interesting to see how right, or how wrong the rumours have been when the news comes. To repeat, all of this is just rumours and nothing is confirmed. Do not buy or sell based on rumours, it can be very dangerous to your wealth.

And for the record, I sold my BOR late yesterday but retained all my FOGL as it has no effect on FOGL, if the rumours are true (apart from perhaps some hot money pulling out short term which might give a short buying op on FOGL).

very wise, but then you know i'm running a modest short here

The targets are still there....the main investors will still be there.....no rns...that's strange...they could have said that they had a few problems but they will be sorted out ....and will have to be....in the oil business ; nothing goes 100% right...that's the way it goes but in the event of a strike...boy they don't half make up for it!...I shall stay put on what I have....mainly in FOGL....with some BOR.....but it's a gamble...exciting times ahead....

i would certainly prefer fogl to bor, but for MrP to say that fogl will be unaffected if bor hit sand, is naive in the extreme ..... i made a bit of money from fogl which i banked a couple of weeks back, and am happy to be in rkh .... rkh will still get hit by backwash if bor hit sand, but are comparatively insulated, for obvious reasons

If you check the AIS now, the rig has moved 50 metres due east, no idea what they are up to.

prob trying to remember where they said this can of oil was meant to be hidden :-)

Apparently The Times is saying drill string broken. Cannot verify, perhaps someone with access to the Times can.

That would tie in with the "well stability" part of the rumours I reported earlier, if the well collapses in, the drill string will get broken, and it would tie in with reports of re-spud.
.

How far do you think the share price would fall if they had to re-spud ?