ADX... high stakes ....

[ELYOB]

SIDI DHAHER WELL : this could be a very interesting play , lot against , but the well is very interesting . Research this is a must .

ADX announcement today that mobilising rig to site ..... the starting point

[drillfix]

Hi Elyob,

ADX to me is like a YoYo, a mate of mine always gets in and out of these and keeps reminding me, but cant really say I am a great BESBs player yet would be interesting as you say should they get a good hit or two, thats for sure.

I also see XST has 10% & VIL also has 10%

Think I had XST the last time when it was about 15c but took a small loss on when noticing the change of direction.

Got to keep an eye on these ones else they run away on ya, or turn around on ya too :)

[ELYOB]

ADX : today I have re-entered with a view the stock will race as before back to 20c ; nothing has changed with the people in this . Testing [at the sidi] is due any time and has probably already commenced . Stockanalysis wrote it up today , and even Strachan does not fully undersatand it on the financing side . But nevertheless he is with this under 8c .... I consider that the finances are there, as if you know these people , that is how they operate successfully. Even Strachan was saying follow the man(s) back awhile ....and that is what one needs to do in this case . In any case , Strachan wrote up the good valuations which are worth the read for detail . There is value here .

[ScrappyO]

I brought a few last week at 7.3c and thought i had timed it right but i see that it has come back a bit. The testing of sidi seems to be slow to get started and i think a few punters are getting nervous/impatient. but yes i see value aswell. Not to long to wait now surely.

[gazprom1]

Hey ELYOB/ ScappyO,

I have looked at ADX before and took another look at it this week after your post ELYOB. I have taken the view that at the current SP (Bought in at 7.3 cents) the downside is relatively limited and the upside is significant. Agree that the testing of Sidi should drive the SP higher.

Gaz

[ELYOB]

You may well find the testing is well under way before an ASX announcement . The rig may well be on site and preparing what it is to. I think that the ASX ann will catch people off guard ,. The rig is owned by a French Company , with invested British capital . Now they operate all over the place , and any rig moves is very hard for anyone to pick up . ADX is run from Vienna which is only 2 hours from Tunisia , France , or London . So things are done quickly , in different places . The people are well experienced in the oiler game in these places . The recent spike was a few punters anticipating, but the only way is to sit patiently in ADX .

Some are questioning that the rig has not been formally contracted ,only a MOU type agreement signed . We must understand the way business is done here ,with these companies being all over the place on the map. Virtually a contract means nothing in current time in this operational area . Security is another reason why it is all done stealthly .

Conclusion : Get set or , miss the run ....

[gazprom1]

Hey ELYOB,

Thanks for alerting me to this the other day...could not have timed my entry any better. 12% rise in a couple fo days!!!! Your words were spot on...thanks again.

Gaz

[ELYOB]

I am concerned with the increased volume , and price firming .... players are getting set ! I warn , if you know the guys here , you will expect low activity and then whooshka! a run runrunniing breakout!! We olde timers know how these guys have run ops in the market in times gone by . They will do the same here is my guess . Please dyor ..... this is a personal view .

[drillfix]

I would be inclined to agree with you ELYOB.

Have seen it a dozen or more times with ADX, which as you say, sitting dusting it off then whooshka as you say.

Trick is dont get caught left holding above 10c is the usual rule of thumb for this BESBs as it always seems to make its way back down to lower levels.

Of course, depending on what progress or what strike has been made. Not fussed, just be cautious for those who dont know.

[JBmurc]

Yes looking to take a small position in VIL they have 10% in the 2428sq km Chorbane Exploration Permit onshore central Tunisia that ADX is involved in....looking forward to the flow-rates

[Joshuatree]

Hi Elyob,

ADX to me is like a YoYo, a mate of mine always gets in and out of these and keeps reminding me, but cant really say I am a great BESBs player yet would be interesting as you say should they get a good hit or two, thats for sure.

I also see XST has 10% & VIL also has 10%

Think I had XST the last time when it was about 15c but took a small loss on when noticing the change of direction.

Got to keep an eye on these ones else they run away on ya, or turn around on ya too :)

XST is up 50% for me having bought just a few days ago on a tip. Have v good gas shows but the drill has a few hundred more metres to go with the promise of more; must be getting close to full depth.
XST has 10 % of this one DYOR high risk

SGC: Dempsey Most Significant Gas Shows to Date (https://hotcopper.com.au/threads/3671820/)

[Joshuatree]

SGC: Dempsey Gas Shows Update (https://hotcopper.com.au/threads/3681666/)

Lots of buyers wanting in on more good gas shows.Test results later. Knowing when to hold and when to fold on this one, risky business DYOR

[Joshuatree]

SGC: Dempsey Well Being Completed for Testing and Production (https://hotcopper.com.au/threads/3691620/)
Sold a third , my cost now .0057c s/p 1.3c atm. My risk reduced.A waiting game now. Work over rig will flow test etc starting in a week or few.DYOR

[t.rexjr]

From the latest SGC update...

"Due to the reservior formation pressures encountered while drilling, high pressure rated equipment is being employed for the upcoming operations"

I can't claim extensive drilling knowledge, but this sounds quite promising!

They certainly aren't afraid to lace these announcements with an air of confidence

(Holding both XST and SCG as I love risk and am quite good at getting out just before I lose eveything)

[Joshuatree]

thanks t.rexr, sounding good, don't start until end of month.
Your last line very good advice because it can be an everything or nothing situ with these stocks.

Getting out with a handsome profit rather then nothing or maximum profit..That can be getting out in the buildup to actual results(irrational exuberance, hype ,pumping). Different tactics depending on ones knowledge of drillers(mine is minimal) and experience and I've been burnt before on these high risk plays.I still like the excitement but tend to get out earlier these days.

[t.rexjr]

thanks t.rexr, sounding good, don't start until end of month.
Your last line very good advice because it can be an everything or nothing situ with these stocks.

Getting out with a handsome profit rather then nothing or maximum profit..That can be getting out in the buildup to actual results(irrational exuberance, hype ,pumping). Different tactics depending on ones knowledge of drillers(mine is minimal) and experience and I've been burnt before on these high risk plays.I still like the excitement but tend to get out earlier these days.

Lessons I continue to re-learn. I was free carried on a small parcel of XST till I took profit out on KAI yesterday and plonked it on SCG. Now the pressure is on these guys to not lose me my winnings! It'll probably (update - will) retrace as well with the delay in getting the rig so I will no doubt be at ground zero before long. GULP!

[t.rexjr]

Lessons I continue to re-learn. I was free carried on a small parcel of XST till I took profit out on KAI yesterday and plonked it on SCG. Now the pressure is on these guys to not lose me my winnings! It'll probably (update - will) retrace as well with the delay in getting the rig so I will no doubt be at ground zero before long. GULP!

Thats a fairly confident sounding placement by XST. Only raising 750k to see them through...

[Joshuatree]

XST up re 35% today on a good win . summary judgement awarded $33million s/p as high as 1.8c. im nearly 200 % up.May sell a few more if it holds up. Well testing looking great atp but it takes time to test the levels properly. If the lowest level is a goer and its looking like it the higher levels will be left till later is my understanding, for testing.
Download Document 143.04KB (https://hotcopper.com.au/documentembed?id=uOMxKKzFkiWRTLKhOROKAxjvTDYC5Qq%2 FwRmZuORtke92GA%3D%3D)
SGC: Dempsey Well Testing Update (https://hotcopper.com.au/threads/3885407/)

[Joshuatree]

That $33 mill is 3 times the mkt cap of XST! Cant see XST getting it all but hey a third will do :).