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s28 said:
FTE 0.30 to 0.45 in a week is great but this does have tendency to go on big runs

Hoping for a pull back at the 0.50 level back to 0.40 level so I can add more

0.40 seems a good floor price given that is where long term Institutions are buying and the last major placing took place there
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Agree - this is looking good. in your opinion, do shares generally go up just before drilling begins? i think drill will begin in 4 weeks iirc
 
I would usually start selling to de-risk on a spud announcement because the risk is greatest then. you can usually if you are patient buy after a drill result anyway rather than gamble and be in for potential 90% down.
 
s28 said:
I would usually start selling to de-risk on a spud announcement because the risk is greatest then. you can usually if you are patient buy after a drill result anyway rather than gamble and be in for potential 90% down.
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when you say 0.50 - do you refer to bid or ask or mid price? i bought in at .38
 
s28 - what do you think of Fyffes? I have a decent return but wondering if I should stick because only 290,000 shares traded this morning out of 296million and the company announced fantastic results this am. is this because, the US has yet to open trading today and investors are waiting for surge there on results and plan to merge with Chequita?
 
FFY - no idea i'm afraid. It's more of an M&A special situation now.

FTE - Rose very quickly between 50 day and 200 day MA lines. Always likely to retrace at around the 200 day MA line temporarily. Could go back to 0.3's or maybe hold at 0.4p. Will be good opportunity to buy some more I think as longer term if uranium does recover as expected this should be a 2p+ stock

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Salaam S28, what is long term for you, 6mnts, 1yr longer

Which would you recommend best to invest in XTR or FRR, that would deliver the quicker profit
 
Can't tell the future. I like both but more comfortable with the fundamentals of XTR. However this is a trash chasing market so FTE suits the get rich quick crowd more.

I like to look at things as investments first and foremost and if they provide a good trade that is a bonus.

XTR have good management, and decent projects in uranium, phosphate and gold which could yield early cashflow

FTE have promotional management and crap projects but if uranium goes up due to world events as a marginal/risk play it could perform well as UK investors have limited ways to play uranium stocks
 
PLE with a nice update this morning, and price rising accordingly.FDA approval seems on track, and marketing opportunities seem to be drawing to a conclusion. This will be a 30p stock on FDA approval.
 
PSL Results due March 27th apparently. Not expecting anything major in the numbers but could they launch Halcyon around then ?

s28 said:
PSL could get interesting soon Photonstar LED

Directors buying recently
About to launch a new product. Looks interesting. http://www.halcyon-lighting.co.uk/

Could play into the overhyped 'Internet of Things' stuff. i.e. you control your home lighting via Wi-Fi

British Gas are advertising something similar where you can control your home heating by smartphone app

https://www.hivehome.com/?gclid=CK-ixJqP1rwCFYcSwwodGFgA6Q

PSL looks too cheap anyway but if it gets a concept stock rating it could go up multiples

£5m Mkt Cap with annual sales of existing products of c.£8m

Tech companies are all about Product Cycles and this one from PSL was due to launch January

big.chart
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It will drift - as most AIM shares tend to - due to the absence of news. But will then have a large rise when the next news comes out.

AIM is susceptible to these fluctuations as the companies have a large proportion of private investors, many of who look to move their money to short-term movers until the next news is due.
 
Yes good consolidation from IKA here. Allowing recent big share issues/transfers to settle.

As CPX has shown negotiating with automotive companies can take a long time. Indeed any major negotiation of strategic nature can take a while and IKA must be fielding communications globally.
 
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GBP sister company to TRP

TRP drilling soon on licence next door to GBP

TRP Mkt Cap £151m but need to raise money
GBP Mkt Cap £15m but have about $15m in cash

Some are speculating whether GBP may partially farm-in to TRP licences as drilling is about to commence.
GBP anyway looks like lower risk/lower reward free ride on TRP drill of a potential multi-billion barrel oil prospect which could extend into GBP's acreage.
GBP should be a multiple winner from TRP related hype.

Only just formed a Golden Cross so upside looks very good right now.

big.chart
 
CPX I don't get why an acknowledged world leader in a field which bleeding edge tech 'gurus' (Musk is a Billionaire and did his PhD in Supercapacitors !) are excited about is valued at only £4m when it's major competitor is valued at $400m !

Reading this just makes me want to buy more. CPX Results next week I think. Not expecting any drama. The week after they will present at a conference though so maybe newsflow around that ?

http://www.techzone360.com/topics/t...2049-teslas-bankrupt-strategy-red-herring.htm

The Musk Factor
Elon Musk doesn’t build old stuff. From the Tesla car to Space X - to his plans for a revolutionary tube train his brain works on the next generation of technology - which makes him wanting to build a Lithium Ion battery factory seem nuts. Peterson is correct, the market is awash with manufacturing capacity here; another factory would just drive down prices making everyone including Tesla less profitable, and saddle Tesla with massive debt for no real benefit.
However, Musk has been hinting about Super Capacitors, but we lack manufacturing capacity for them particularly at car scales and even in a hybrid configuration the result could be attractive to both Apple and Tesla as an alternative - particularly if the patents to make the hybrid work were owned by Musk.
Supercapacitors
Supercapacitors are thought to be the eventual battery replacement technology. They are far more efficient, they don’t wear out, they can be instantly charged, and they can dump their energy instantly without bursting into flames. Their problem is that they don’t really store energy very well and, largely because they are new and produced in relatively low quantities, they are expensive.
A hybrid configuration would allow you to flash the Supercapacitors which in turn would rapid charge the batteries as you drove, allowing you to fill up faster than you could with gas and you could even trickle charge the capacitors at charging stations so you wouldn’t fry transformers or have to pull as much power to them. In effect, your charging station would build a charge inside which could also be used as emergency power in your home during an outage and you could then charge your car more rapidly. (Flash charging several cars in the same neighborhood at the same time would likely take the neighborhood transformer and turn it into a heap of molten metal).
From an energy management perspective, if these things were networked, the power company could dump power into them when there was excess and make sure power use was balanced and potentially even pull from them if there were spot shortages much more effectively than batteries.
In the end, Supercapacitors even used in hybrid form, would massively improve the electric car’s viability and success. In that instance, a battery plant to produce them would make a ton of sense.
Apple
Apple has been apparently meeting with Tesla and the nature of the meetings would appear to have something to do with an acquisition or investment. Think if Apple phones, media players, tablets and PCs could be flash charged, what an advantage that would give the devices. You just press the phone to the charger for a few seconds and you have a full charge and are ready to go. You could put chargers in conference rooms and folks could, much like they take a bathroom break, ever few hours just touch their device to the charger and then continue cordless for another 5 to 10 hours. If Apple had that exclusively they’d likely take the market back from Google and Samsung. This would be a massive competitive advantage.
 
CPX am I nuts here ? Why would Company do placing at 5.5p and issue options to Management at 8.5p if they didn't expect the next year to be a massive turnaround?

This reminds me of likes of PHE and CNEL which were abandoned by most investors and then staged 10x recoveries almost overnight once news hit.
 
If you check back the thread I've been long term bullish on CPX. Was right from 10p to 30p and then wrong from 30p to 3p.
 
CPX could start to kick on now...

Interim Results today

Anthony Kongats, CEO of CAP-XX said:

"We are pleased with progress on our initiatives in the half-year, notably in the Automotive segment where our larger supercapacitors are becoming widely known amongst Tier-1 system suppliers in Europe, the US and India, with a licensing deal expected this year. Volumes of our small form supercapacitors are increasing from existing customers as well as early shipments on new design wins, and those of our manufacturing partner, Murata. Taken together with continued progress on cost down programmes, we are increasingly confident for the second half and beyond."

and

Interest from the Automotive market segment in larger supercapacitors continues to progress, with many potential licensees undertaking testing to confirm product performance and conducting demonstrations with third parties. Discussions are continuing with a number of parties. The CAP-XX offering is becoming widely known within these markets and the Company continues to receive requests for meetings and demonstrations latterly from the US, Europe and India. The Board remain confident that at least one licensing deal will be in place by mid 2014.

To state now in late March that they expect 'at least' one i.e. possibly a couple of licensing deals by mid-2014 ( April - September ?) they must already be in pretty advanced negotiations just requiring crossing of T's and dotting of i's ?

http://www.investegate.co.uk/cap-xx-limited--cpx-/rns/cap-xx--interim-results/201403240700079275C/
 
If CPX pull this off they should be valued closer to Maxwell Technologies $400m rather than current £4m

Real scope for a huge rise this year. IF they are part of the Elon Musk / Tesla / Apple ? GigaFactory initiative then this could approach 100 bagger status let alone 10 bagging. But I've been wrong and right on this plenty of times.
 
good day in BMN. bad in SOLG and my FCR is juts crashing now. Should have top sliced more
 
PSL continuing its ascent. Very illiquid so can go up or down alot on pretty small buying/selling. Results on 27th. Can't see Results by themselves leading to it kicking on. More clarity on Halcyon launch might.
 
It is cheap but they have detracted from short term upside by diluting so much recently.

Gold going up would help. Positive operational announcement on cashflow/dividend would be great but might require a few more months. Limited downside I would think because it is backed by some Billionaires.
 
s28 said:
It is cheap but they have detracted from short term upside by diluting so much recently.

Gold going up would help. Positive operational announcement on cashflow/dividend would be great but might require a few more months. Limited downside I would think because it is backed by some Billionaires.
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PSL results out...S28 what do you make of them...profitability still the issue here or?
 
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Nothing there as expected from historic Financial Results. Halcyon launch looks delayed until H2. Should be fine long term. Short term move was largely on expectation of more near term Halcyon buzz.
 
CPX

Great video published March 2014 on Jay Leno's site about a Ricardo Hyboost modified Ford Focus achieving 47% improvement in fuel economy using Ricardos Hyboost system which utilises Supercapacitors. Around 8.30 minutes in the Ricardo guy takes Jay Leno to the boot and shows him the supercaps. (No idea if they are CPX ones).

<iframe width="560" height="315" src="//www.youtube.com/embed/X9vZLYMoTCQ" frameborder="0" allowfullscreen></iframe>
 
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Chart is starting to look good again. A lot of 0.40p placing stock seems to have gone in the churn between 0.45 and 0.60p. I think this is Lenigas's next big play and it does remind me a little of REM where a big catalyst really got REM going after it had been moribund for a while. STG has 3 potential catalysts in Welsh Gold, English Oil and Indonesian Coal. There is meant to be news on the Indo Coal in April and they are drilling for the English Oil this Summer. I would definitely want to have something in this if only to 'keep an eye' on it as the chart suggests potential for it to do a 3/4/5 bag in a day as it has done before in recent history.
 
FTE have announced a Trading Halt in Australia with regards to a potential acquisition. Still trading and no RNS in UK.
 
FTE is really going for it. Almost 0.6p now after being just 0.3p a few weeks back. With no details yet on what they are acquiring and for how much impossible to gauge upside. That is perhaps why it is going up so much it can be left to the rampant imaginations of the masses.
 
Broken out above 50 and 200 day averages on major volume and has tendency to go on stupid runs so no idea where it will go or settle.

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PYC Virtual Tumour validation and talk of deal with large pharma

Have ignored the bios for a while but PYC news today and chart set up looks interesting ?

big.chart
 
PYC

More I look at it more I like it. From the recent Half Yearly Report


Growth Strategy

We have been pursuing a number of strategies designed to build value in the business.

The Company's primary therapeutic area continues to be oncology. One aspect of cancer treatment that has burgeoned over the last few years is that of immune therapy, where the latent immune system is encouraged to attack and destroy cancer cells. Physiomics is developing an immunomodulatory version of Virtual Tumour via grant and/or large pharma collaboration. Development of such a model would, alongside Virtual Tumour Clinical and the other new offerings, continue to broaden the Scope of the Company's services while maintaining a narrow segment focus on the Pharmaceutical Industry and drug discovery and development in particular. This strategy should continue to build service revenues. Ultimately, once large pharma are convinced of the benefits of applying Virtual Tumour across all of their oncology programmes through to Phase 2 and Phase 3, then there should be a switch over to a licensing and subscription model. Such a business model could be transformational for the Company, in terms of both the magnitude and security of future revenues.

We have to date been offering sophisticated predictive models which can result in relatively high value contracts. Whilst pilot studies have provided the validation required to lead to such programmes, many companies cannot use this approach since they may not have the budget or the data set to support a validation exercise. We have now introduced predictive models in cardio toxicology and our DrugCARD product to create a soft point of entry in order to build confidence in the capabilities of Physiomics' modellers, with the aim of leading into discussions on the application of models that result in intrinsically more expensive programmes.

We also continue to look for collaborations that lead to a share in a compound in development and the potential to share in downstream revenues. Sareum plc announced a collaboration that has taken a license to the CHK1 candidate which is now progressing into pre-clinical development leading to clinical phase development. ValiRx plc also announced that their lead compound VAL201 is progressing into Phase Ib. Physiomics has a stake in both these compounds.

Additionally, Physiomics continues to assess opportunities to join forces with other relevant service companies or biotechnology companies with their own pipelines.

Outlook

Many of the large pharma companies have undergone significant restructuring in the recent past. While this is continuing, there are signs that certain customers have completed this phase and are ready to consider new programmes of work. In the oncology therapeutic area the Company has noted the shift towards immunomodulatory therapies in the market and is seeking to address this unmet need. Virtual Tumour would be very relevant to future planned studies where immune system targeting is likely to be combined with more traditional direct cancer cell targeting approaches.

Opportunities to develop further relationships with our existing large pharma customers remain strong. In particular, two such companies have been in discussion with Physiomics over initiating a significant collaboration to help develop Virtual Tumour Clinical and apply it to real-world projects. Such collaborations would represent a step-change in technology development and revenues. The timing of these initiatives cannot be predicted at this point.

M&A opportunities remain a viable route to accelerate the growth of the Company.
 
FTE deal not great short term due to dilution but the total portfolio will grow to over 100m lb uranium and longer term the new Slovakia project may have higher chance of delivery due to Government buy in.
 
XTR looks an excellent update. Has been short term depressed by its 'financing facility' but if the pressur eis off and it is valued on long term potential sky is the limit on this one.
 
I really like this chart that is building up right at crucial technical levels.

£2.5m Mkt Cap seems far too low for a bio play talking about potentially transformational deals.

There have been some huge moves in likes of OXP, SLN, PLE, VAL, SAR etc recently and in the past

My understanding is the AACR is a major Industry / peer review conference so great exposure for PYC and presumably opportunity to get some dealflow.

s28 said:
PYC Virtual Tumour validation and talk of deal with large pharma

Have ignored the bios for a while but PYC news today and chart set up looks interesting ?

big.chart
Click to expand...
 
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PYC second dose of news and promise of further news. A Large Pharma sign up would send it vertical so this may be enough to trigger a run.

Physiomics PLC

10 April 2014

Physiomics plc

("Physiomics") or ("the Company")

Physiomics to present the second validation of its Virtual Tumour Clinical platform at the CASyM Systems Biology Academia/Industry workshop in Lyon on April 10th

Physiomics plc (AIM: PYC), the Oxford, UK based systems biology company, is pleased to announce that it is presenting at the CASyM Academic / Industry interaction workshop taking place in Lyon (France) on April 10(th) 2014. Dr Hitesh Mistry will present on validation of the Virtual Tumour Clinical platform in melanoma to an audience that will comprise senior academics and large pharmaceutical company scientists.

With this new study the Company has demonstrated that Virtual Tumour Clinical can be used to make accurate predictions of clinical outcomes, using only pre-clinical PK/PD and some limited clinical PK data as a start point. The Company targeted a phase II clinical study of Docetaxel versus Docetaxel/Selumetinib in metastatic melanoma and showed that Virtual Tumour Clinical was able to accurately predict the mean change in tumour lesion diameter in both arms of the study. For the second time Virtual Tumour Clinical was able to make precise clinical predictions demonstrating that the model structure is highly relevant and useful in this context.

This study represents the validation of Virtual Tumour Clinical in melanoma and is the result of a three month collaboration with Professor Mark Middleton at the University of Oxford/The Oxford University hospitals NHS trust. This work is a part of the collaborative agreement announced on the 11th of November 2013. The study was supported by the UK's innovation agency, the Technology Strategy Board.

The presentation will take place in the "Flash presentation of innovative technological offers by SME or SME projects" session.

More information about the conference may be found at:

http://lyonbiopole.com/formulaires/Casym_2014/

Dr Mark Chadwick, CEO of Physiomics, commented:

"We are delighted to present this further validation of our flagship Virtual Tumour Clinical technology which could revolutionise how clinical dosing and scheduling regimens are chosen. Following on from our validation study in prostate cancer, these results suggest that Virtual Tumour Clinical is generally applicable to all tumour types. Predicting Clinical outcomes for particular drug regimens is of significant interest to large pharmaceutical companies and could help them to increase their drug development success rates. We believe this should make the platform extremely interesting to large pharma, the first of which we hope to sign up in the near future."

Enquiries:

Physiomics plc

Dr Mark Chadwick, CEO
 
Any of the bio experts got a view on PYC ?

Had a look back to previous posts a few years back on PYC (February 2011) looks like a few of us played the SAR VAL PYC lot on the last bio hype cycle. My reservations in the past with PYC were that they were just supplying a software service to the Bios so couldn't and shouldn't participate in the sort of upside moves you get in the Bios on 'positive discoveries' / licencsing etc But it looks like they have in the last year or so set about changing their model so now any deal with a major Pharma could see some real S&V from the share price.
 
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PYC - great volume today. Really starting to build a platform/launchpad for that next major move.
 
FJET - look to have lanced the boil of the Darwin EFF and some serious buy-in from likes of Stelios, Winter et al. Short term a lot of dilution and need to get open offer out the way but long term the chart and economic potential to take the Easyjet model to Africa is immense. I've previously been critical of it as a Lenigas venture where they let the public take the capital intensive build out phase risk. Them buying shares and ending the EFF suggests now may be approaching the cash cow/raking it in phase. Over a 3 year view I'd expect it to do really well now.

big.chart
 
XTR youtube video interview with CEO

<iframe width="560" height="315" src="//www.youtube.com/embed/oxKQ_7vlaYg" frameborder="0" allowfullscreen></iframe>
 
It's all a bit convoluted EE. Not sure I have full handle on it and don't trust Lenigas at best of times. Some companies have indirect interest via holding in Angus Energy as well. Some have interest through holding in HHDC Horse Hill Development Co which owns 65% with Magellan owning 35%.

I roughly make it


DOR 10% of 65% = 6.5% ?..............for a Mkt Cap of £6.5m
UKOG 13.5% of 65% = 8.7% ish ?........... for a Mkt Cap of £4.6m
SOLO 10% of 65% = 6.5% ?............. for a Mkt Cap of £7.8m
STG 7.5% of 65% = 4.9% ish ?............. for a Mkt Cap of £3.5m

To my eye UKOG STG look best value plays on HH ?
 
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s28 said:
It's all a bit convoluted EE. Not sure I have full handle on it and don't trust Lenigas at best of times. Some companies have indirect interest via holding in Angus Energy as well. Some have interest through holding in HHDC Horse Hill Development Co which owns 65% with Magellan owning 35%.

I roughly make it


DOR 10% of 65% = 6.5% ?..............for a Mkt Cap of £6.5m
UKOG 13.5% of 65% = 8.7% ish ?........... for a Mkt Cap of £4.6m
SOLO 10% of 65% = 6.5% ?............. for a Mkt Cap of £7.8m
STG 7.5% of 65% = 4.9% ish ?............. for a Mkt Cap of £3.5m

To my eye UKOG STG look best value plays on HH ?
Click to expand...

4 strang & linigas companies involved in the same thing!!
 
Yes it makes me think they reckon it is a real potential winner. Lenigas has some serious ownership in these Companies. Unlike some of his other playthings where he takes out salary and relies on options.

my maths on STG for example would be they have potential for 5% of a 100m barrel find i.e. a claim on a potential 5m barrels worth say $15-20 per barrel in EV terms so $75-100m. Assuming it is a 10% CoS drill then the 'correct' valuation for STG's stake is about $7.5-10m. So STG at £4m seems about fairly valued. However it also has cash and its Welsh Gold and Indonesian Coal assets/potential so it looks a bit undervalued on that basis. Finally I expect the Lenigas promotion machine will start working as the drill approaches so there could be some hype rallies allowing one to de-risk prior to spud/P&A
 
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PYC seems to be some informed sounding speculation about PYC potentially due some sort milestone payment from Eli Lilly ?

http://www.discussthemarket.com/pyc-stream

The FDA approved Eli Lilly's Cyramza just a few days ago

http://www.reuters.com/article/2014/04/21/us-lilly-fda-idUSBREA3K16T20140421

(Reuters) - U.S. health regulators on Monday approved an Eli Lilly and Co drug to treat advanced stomach cancer and a form of cancer in the area where the esophagus joins the stomach.

The Food and Drug Administration said it has approved ramucirumab for use in patients whose cancer cannot be surgically removed or has spread following chemotherapy treatment. It will be sold by Lilly under the brand name Cyramza.

The drug, which works by blocking blood supplies that tumors need to grow, had been considered one of the most important in Lilly's developmental pipeline. Cowen and Co has forecast annual Cyramza sales reaching $1 billion by 2019.
 
PYC

the Eli Lilly CEO even mentioned Cyramza in his 'high level observations' at start of yesterdays conference call. Interesting if indeed PYC were involved. Cheque in the post and validation of their efficacy would be transformational. Eli Lilly is capped at $65bn. PYC £2m.

http://seekingalpha.com/article/216...sses-q1-2014-results-earnings-call-transcript

Before covering our first quarter 2014 results, I’d like to share some high level observations. Lilly continues to make good progress in executing the strategy we laid out nearly five years ago to navigate through this period of unprecedented loss of the revenue and income precipitated by patent explorations for several of our largest products.

We have continued to invest in R&D and have successfully replenished our late stage pipeline. The first fruits of these efforts are manifest in the approval on Monday evening of Cyramza by the U.S. FDA. We have three other molecules currently under regulatory review with more to follow soon and we have the very real prospect of launching two additional NMEs empagliflozin and dulaglutide in major markets later this year.
 
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Rise and volume out of nowhere on no news. Interesting.

s28 said:
PYC Virtual Tumour validation and talk of deal with large pharma

Have ignored the bios for a while but PYC news today and chart set up looks interesting ?

big.chart
Click to expand...
 
AIM is so difficult to make sense of. Cannot play a long term gain.

All stocks go up and down and up and down.

Coms, TALV, SOLG, all stocks up and then down on the news
Blinkx and QPP had some bad articles about them

just difficutl to understand
 
All of those stocks are dodgy in some way or other. AIM is a growth market for smaller cap companies with limited regulation and oversight so you should expect greater risk i.e. volatility. The lack of liquidity and Institutional involvement also means shares can be more volatile. It simply goes with the territory.

Too many retail investors follow momentum stocks which are in the news. Such stocks are more prone to dropping on lack of news and can by cynically manipulated prior to placings etc.

You can 'game' such a market. e.g. I try to focus on 'below the radar' stocks where the herd has not arrived and where there has been limited newsflow as there is scope for that to change going forward. PYC is an example of that and I think STG will be similar.
 
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I'm a little surprised IKA has not continued going up but also not surprised.

Its a great story and even if they can only do half what they claim it should be a huge Company.

However as pointed out at the time of the original move alot of large Companies work very slowly when dealing with new things 'not invented here' and any partners will no doubt be doing their due diligence verifying IKA's claims before even setting about tortuous back and forth involving multiple parties lawyers on drafting and re-drafting any agreements. Added to that Because IKA floated at around 60p and has lots of options/warrants which are due for exercise at around that price it has become a natural point for the share price to consolidate in absence of more newsflow.

I expect it will only take a few more weeks for the 200 day MA to catch up with the current share price and that should then act as a potential signal for further action.

s28 said:
IKA floated about 3 years ago at about 60p.

This news could see it breakout well above that level in coming weeks/months. Just had a Golden Cross technical signal as well.

big.chart
Click to expand...
 
STG - Looks like Lenigas did indeed mention STG and Horse Hill on Twitter yesterday.
 
IKA has been making a slow but steady climb over the past week. This has previously been followed by newsflow. Worth keeping an eye on.
 
s28 said:
big.chart


IKA having a hot day
Click to expand...

Took a while to digest all the 60p issuance but technically looking well set now with the MACD positive and price back above the key Moving Averages

Would like to see a volume breakout above 100p on news at some point and could really accelerate then.
 
Just a warning not to take at face value anything you read on a BB no matter how knowledgeable the poster sounds or makes out they are (that includes me :-p )

I was reading someone spouting off on XTR on the LSE BB earlier claiming that XTR had no ongoing exposure to the Chevron Netherlands P2 Licence. They cited as evidence for this the 'headline' announcement that XTR had 'disposed of its interest in their Danish and Dutch oil exploration licences'. In fact XTR had disposed of their direct interest but still retained a potentially valuable royalty interest which would not normally be that valuable but the Licence has had discoveries and is in the hands of Chevron so if anybody could make it work it is them.

The Netherlands

In The Netherlands sector of the North Sea, Xtract currently holds an overriding royalty agreement with Chevron Exploration and Production Netherlands B.V. ("Chevron") and TAQA Energy ("TAQA") over their respective 48% and 12% working interests in the Dutch offshore blocks P1 and P2.

Chevron decided to drill the first well on the P2 block since the acquisition of the two licences from Elko Energy Inc ("Elko"). The P2-10 appraisal well targeted an existing gas discovery on the P2 block (P2-7, with low levels of CO2) and one of the main objectives was to evaluate commercial hydrocarbon flow rates from an extended reach horizontal well within the Rotliegendes sandstone reservoir.

The P2-10 well was drilled by the Noble Byron Welliver jack up drilling unit, commencing on 9 January 2012. The well was designated by Chevron as a "tight hole" in order to protect their proprietary technology being used to drill the well ("tight hole" meaning information regarding specific activity and progress is strictly confidential to the working interest partners). The well was side-tracked in April 2012 and well operations were completed in July 2012. The well remains classified as "tight hole" by Chevron and as such, no information regarding the outcome of the drilling activity has been released to the Company
 
PYC

Interesting Holding declaration today and noticeable pick up in Twitter activity from the Company.
 
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