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Hey homebrew. Thanks for pointing that out. I tend to look at it with a dose of scepticism and thus far hasnt influenced my position in GSPE. However I didnt know that it was fabricated data. Thanks!
D@mn 95% naked shorts last Friday!
Yes your timing turned out "well played" indeed. Also thank you for bringing this to limelight, this type of shady biz has been here all along. The dumpers have been always in the "know" of any potential game changing news release. Very unfortunate for all of us small stake holders.
I agree. Def a bust here! That's why I sold when you first flipped your script with "not good, not good at all". Thank you for being the voice of reason on this board!
Trip if your timeline is right here (before month's end), Friday after hours looks to be in store for the next update, imo.
On that note would anyone know if there is a specific time period insider cant buy before the news release?
S.
"..theres something in the water.."
Glta
Any strength in bids is met by "infinite" asks that tend to stop showing up once the price approaches 4 cents. Interesting.
Yup. That buying at 4 cents was def impressive!
Sellers have been ahead of the "news releases" for a while now.
Last 2 days 80% of total volume are naked shorts based on the otc short report data.
Reggie do you remember what the price of oil was in early September when this thing was smashed to 5 cents from 15 and "tax loss selling" wasnt yet a "factor". Please share with me what you might think led to that drop. On canoe Delek provided a decent update thats avail for everyone. With regards to your speculative remark,I agree its all spec, some more rational than other. I apologize that my current perspective is pessimistic in nature and I will post less of it most def. Sorry i wont sell just yet. Zantac will do for now.
Short squeeze coming for a long time now. I dont think so. Whoever is shorting/dumping has been ahead of any relevant news release since this started moving in the fall of 2017. 0.035 is not a joke "if" Tau fails. Think about it. Look at the timing of the price take down during the time we were supposed to hear about Canoes results. You can tell yourself Canoe wasnt a big deal but the fact remains. People selling have been the smart money here thus far.
I dont kno if I believe they are still drilling at this point. If the share price is telling of anything at least from my perspective thats probably of another dry hole. But i kno faak all so hopefully my gut feeling is a "bust" on this one.
Thanks. However technicals in this case hold no water as far as my opinion goes. This price has been rigged with for a while now.
The dumping continues. Any serious bid size is almost instantly filled. Shorters are also back on the track. Who ever is selling or shorting seems to be ahead of any news coming our way. Week 14 is here and sellers are dumping mutiples of 100ks in single orders.
Glta
Day 1 of week 14
I guess now we know the meaning of a "tight hole". Lol
Day 1 of week 13.
Share price is looking like it wants to break down. This didnt stand a chance of staying above 5 cents. Serious dumping/"resistance" at 5 cents.
I am still amazed at the almost effortless take down of the price from 15 cents to 3 during the time period a positive news couldve been released at any point. Who ever did it almost had no concerns of the +ve news coming out.
Thanks for the update. The silence on it was def not promising considering they said they would report on it in few weeks after they spud Tau.
Thats a bummer considering the probability of hitting recoverable hydrocarbons was close to 80%.
Yes. Hence the 44% likelihood of success.
Glta
Thank you very much gspex! Your willingness and generosity with which you share your expertise is very appreciated.
Bob after hearing gspex ur spot on in that we should def wait and see if this well is successful and what sort of plans they have in harvesting the resourcs since having four wells producing 5k of barrels per day will yield a much different market value then having a different number with different well capacity. I thought these things were much more "fixed" in terms of the production approach.
Best of luck to all.
Bob, I agree that we might as well wait for the real facts, but you assumed wrong. I wanted a close enough production number to gauge a potential market value based on the sectors PE, to help answer Booms question.
Take care
"If they had aggressively developed it as Gulfslope/Delek will Tau, the results would be very much better."
This makes gauging Tau's yearly output a bit difficult. Could tau produce 10-20k of boeq per day once everything is up and running?
Thank you
Ty i saw this one as well once gspex reminded of the mahagony similarity. So they are looking at 5000 boeq per day. Not bad.
Gspex - what would be the well life of Tau if it was successful and what sort of yearly production would you expect to see?
Thank you
The word is they are breakeven at 25$/barrel. Say they find what they thought they would 300 mill eq. 20% is 60 mill × 25$ (current price 50$ per barrel - 25) = 1.5 billion of potential profits on the table. Current market cap is around 50 million.
So lots lots more.
Nez
Bid 7.5 cents, ask 14.5 cents. What gives?
Happy Thanksgiving to all of you celebrating today in the US of A!
Could be. But demand in general spiked today. There was a million share bid at 4 cents at the close too. 13.1 million shares traded looks solid. They must be very close to having canoe and tau funded by now.
Glta
Thats what im thinking. Gspex, this Thursday is the beginning of week 11. Could there be significant findings at this point?
10 million just exchanged hands without a share price budging!
Thank you..
Week 9 done. First day of week 10 today at Tau!
Hey gspex. So assuming they do well and wish to acquire more adjacent leases, when is the next time they can pursue those acquisitions? Can they place in lease offers before an actual sale, or are all leases strictly given to highest bidders on specific sale dates?
Thank you
Trip-no news on progress. As per gspex tight holes dont provide progress updates. Probably mid to end December news on drilling completion.
S.
Gspex- is it common for a company to inform the public that the drill hole will be regarded as "tight". So kind of a heads up to the public that no news is to be expected?
Ty
Gspex- what would be total costs of production for tau?
Outside of the communication aspect that is frustrating but which gspex did a great job explaining, "tight hole", I wouldnt worry too much. Its a relatively simple formula. You will either do very fine or you wont based on Taus results.
Yes. Our current financial situation is such that we ourselves are unfortunately bringing/brought the price down. Only by dilution can we finance our portion and until we hit, this price is stuck in mud.
Yes their communication is dismal at best. On friday we are entering week #9.
That 4 cent support is not looking good.