From the latest company's drilling update....17 Feb

http://moneyam.uk-wire.com/cgi-bin/articles/200402170700084897V.html

Can anyone with mining knowledge explain these terms....

What does sidetracking mean? Approx how ong will that take?
Approx. how long will it take to correct a deviated section?
Is 'crude oil in shale samples' a good indication that there is oil?
Is 'Gas-bearing porous sands being logged' a good indication that there is gas?
Basically what does logging involve ?

Any views re AEX potential??

Regards
Stephen

Small position taken earlier today. Have been waiting to see if I could get in under 11p after the last run up, but think that 450k T trade put paid to that idea.

Looks very interesting.

In for a few this am.

Afternoon all !!!
Delighted to see this is ticking along nicely.
If it breaks through 12.5p then next stop is 18p (for the chartists among you).
If there is progress in North Korea then next stop is somewhere in orbit (for the long term holders among you).

K******

Afternoon all !!!
Delighted to see this is ticking along nicely.
If it breaks through 12.5p then next stop is 18p (for the chartists among you).
If there is progress in North Korea then next stop is somewhere in orbit (for the long term holders among you).

K******

K Hi,

The MM's pushed the price up, take a look at the trades, three MM buys in succession, one at 11.5, then one at 11.75, and one at 12.00, they pushed the price up with those three trades, but why ????

Cheers,
PM

PM

They were three relatively small trades too !!!
From past experience (with the fact that the price was marked up too) this suggests a shortage of stock and an attempt to attract some sellers.
The (albeit strange) fact is that one or two sell orders may well have a short term effect of pushing the price up to a level where there is good two way business.

The resumption of positive newsflow will put a complete spanner in the MM's strategy and the price will surge forward anyway.

Either way there is only one direction the share is heading short term.







And it ain't down !!


K******

Have a look at this from Schroders 'Oil at $67 a barrel, where to next'

http://www.schroders.com/content/content/staticfiles/9/Insight_Aug05.pdf

And this one on emerging Asian economies

http://www.schroders.com/content/content/staticfiles/0/Aug05-Emerging-Asia.pdf


Cheers,
PM

More small MM buys, 15k, and the price moving up again.

Afternoon all !!!
Just been reading the thread and looking at the trades.
Looks as though you've all called it correctly.
Agree that the chart looks good up to 18p.
Well done everyone.
Keep up the good work.

;o)

They have been chipping away all day.

"Nothing goes up in straight lines"

Great day thanks PM.any one know whats driving the price apart from oil generally.On that subject my best proforming shares of the last 12 months have all been Canadian tar sands.SYNCRUDE,OIL SANDS TRUST ,SUNCOR,CANADIAN NATURAL RESOURCES.Not surprising when you consider the second largest reserves in the world after Saudi are in stable old Canada on the USA's doorstep.Also the Chinese are attempting to buy in to secure their supplies.Rgds all.That is best proforming shares apart from SEO

When might we expect the latest round of broker reports. I'm assuming the CEO is back in the UK?

Greyhound Hi,

Nothing on the broker websites yet, will let everyone know when the next note appears.

Cheers,
PM

Morning all !!!
It is very active this morning - 13p bid and 13.5p offered.
Splendid stuff.
Onwards to 18p !!!!!!!!!!!

;o)

Morning, cracking start this morning with 3 mm buys already. Not a bad start to the day!

This one is just gonna keep going with the MMs caught with their pants around their ankles the buying pressure is only gonna build up! Oil hit $70 in the futures! There must be something brewing behind the scenes...........

Hurricane Kirsten is en route to the Gulf of Mexico............

Then keep off the sea wall Walker.Any idea whats driving the price?

I am expecting to see some positive broker reports in the near future and perhaps the market is getting wind of this? I also think technically that we'll see the price trading back in the 20-25p range before too long. All IMHO!

Nice to see the sp on its way up again, with lots of purchases. I hope this time we see new peak. Any one know of any reason, why it is going up? apart from the obvious oil price going...............up ........up but for how long I wonder?