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Tuesday close stock on loan figure got updated. It was not 200K of shorts closed on Tuesday 15th, but 350K shorts closed.

Tuesday 15th close outstanding stock on loan was 900K.

I will let you know how many shorts closed yesterday with new figures for yesterdays close, around lunch time.

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A lot of small "O" trade sells today, looks as it a lot of small PI's people were desperate to close their positions on any bounce.

If the news is good, more fool them.

Its a bit of a PI phenomenon of missing out, they hold through the pain, rush to sell when it eases a little and miss all the big rise.........

I would have thought that now there would not be a single short, too risky.....in case of huge upside....

Shares Mag has suggested in one article everyone to short RKH today.......... LOL

Based on "price movement trend" ?????

They will get blown away when good news comes out - got to be one of the worst calls in history ?


Never short when big news is just around the corner, the write will either claim to be wonderful if any bad news breaks, or will HIDE behind a stop loss if the price rises.

And they said SELL AT 216p - LOL - its over 230p now.

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M, we have all done it in the past, the thing is to learn not to do it in future..... and present of course.

More borgo fun :


The Owner has told my Barman to order extra supplies. It is anticipated that the party will have more guests than expected.

The party date is unclear, but the Owner has decided to stay in town as he believes it will be very soon.

Orders for beer have been cut back in favour for more sixties vintage wine. No Evian orders.

Here comes the sun ............ By borgo22

Hope that you are right Prosels......any other snipbits of information from the grapevine ?

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Shorts situation was that 50K of shorts closed yesterday.

Yesterday opening with 900K of stock on loan.

Yesterday closed with 850K of stock on loan.


This week, 200K closed on Monday, 350K closed Tuesday and 50K closed Wednesday.


As for me, I still expect news next Mon or Tue or Wed....... no rush :)

If you read the EIS document they say they will :

Drill up to 8 appraisal wells.

Flow test up to 4 of the those 8 wells.

Plug and abandon all 8 wells.


Its very clear up to 50% of the wells will be flow tested, but 100% of them will be P&A. This programme is to prove the size of the massive Sea Lion :)

EIS link here : http://www.mediafire.com/?l067cfjalxx7gii

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a/ Poor news would be very little net pay and a high up OWC.

b/ Good news would be circa 35 metres of net pay and a low down Oil Water Contact (OWC) point.

c/ Superb news would be 35 metres or more of net pay and a low down OWC.

d/ Fantastic news would be 35 metres or more of net pay and no OWC found.

e/ Dream land would be 35 metres or more of net pay, no OWC and also a new lower down fan containing oil.

Therefore -


1/ I am expecting Sea Lion Main fan to be good with similar net pay to 14-10/2

2/ I am expecting no oil water contact point to be found. (Yippee)

3/ I am expecting Sea Lion lower to be thin at this point, due to extreme edge location, so a little net pay if any but not a lot, not the same as 14-10/2)

4/I am expecting something "new" to be found under Sea Lion lower.


So my expectation is something in Dream Land, but then I have rose tinted specs on :) and I am not going to be disappointed even with just good news :) !!


The present share price reflects "Bad News" and so, if anything good comes in then it will rerate upwards rather sharpish.

I should say ref Sea Lion Lower to explain why I am not expecting too much on that, this drill appears pretty much on the edge, so we should be looking at only thin net pay if any for that, refer to page 24 of the Volumetric Assessment ( http://www.mediafire.com/?z4pkvs9dd6l16b7 ) . To test Sea Lion lower the appraisal needs to be due west of 14-10/2 plum centre of the structure.

Given this location if they have entered Sea Lion Lower I would expect 2m to 5m net pay - maximum if any at all. They might even miss SL lower. The thicker net pay for Sea Lion Lower should all be westwards and will be tested by a westerly appraisal.

Any news anybody ?.....what's our man in Port Stanley got to say ?.....crates of beer heading for the rig ?....or pouring flat bubbly over the side ?....

just a lot of waffle as usual.,.

On Line Limits :


MAX Buy = 1K @ 218.5p

MAX Sell = 50K @ 215p


I think someone is buying in the background...... looks to me like they want to shake all the PI's out and horde the shares among the big boys.

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