.

Looking strong today, L2 is 3 v 1 @ 116/118 with just ARBT offering at 118p.

BUT be careful as all controlled by MMs all of whom only offer (are obliged?) to deal in max lumps of 5k

is that to sell as well as buy cynic??

yes .... further, each MM's spread is 5p and nearly always is and volumes are also low (only 267k this morning)

A lot less risky then DES...this one because this is an appraisal-production well, not an exploration one.......

that's why i hold both (and EO.) but considerably less in DES

Fingers crossed, and in a few weeks time the sp could be 50% more....

In around 7 weeks from now the SP could be 60% down or 300% up.

Enjoy it as best you can.

Canada closed for trading yesterday (Thanksgiving Day Holiday), in case anyone is wondering why the Canada chart has not changed.

Very nice intraday reversal.

Been looking at Encore.

EO. have 15% of Catcher and 16.6% of Cladhan.

Looking at what other companies are willing to say it appears you could, if you so wished allocate at the moment perhaps 20m recoverable barrels to EO. for their share for Catcher/Cladhan.

With a 350m market cap and only presently, at most, you could say 20m barrels recoverable for their share, is it not rather toppy ?

Yes appraisals might push that recoverable figure up (and yes they have other things but so does everyone else), but for now 350m market cap for 20 million barrels as it stands now, that looks incredibly high.

If the Xcite Energy (XEL) well comes off and they end up with 100 million recoverable barrels from Bentley (let alone if that become 200m), if you use the Encore metric (350/20) and discount by 50% it would still put XEL at 875m market cap (today its 163m).

Either EO. is grossly overvalued or XEL and many others will be zooming away if they have a bit of luck.

Pros - you can't extrapolate (this week's new word for Emu!) like that ...... north sea with infrastructure and south atlantic with none bear no meaningful comparison

XEL is north sea !!!!!!!

sorry - will move to correct thread!

Looking perky today. Wonder if they have completed first phase of drilling ?

Looking perky today. Wonder if they have completed first phase of drilling ?

From another board......

Still have second phase to do, horizontal.



"XEL hit TD last night, 50ft early (oil) 3x coring runs to do.... soft sands !!!"

Rumour has it they have hit oil

Yes, that should be the case.

Now just need to drill the horizontal and flow test it.

Good flow test then 400p per share price in November IMO.

Enjoy the ride !

no RNS yet