A few have asked me to provide an expected news flow and activity time line for RXP. I will provide one to the best of my knowledge until December:
Expected news anytime between August and November:
- LG buyout for Galaz
- Galaz commercial license approval (allows to sell oil at commercial rates => revenue)
- BNG Waiver approved by Kazakhstan Government
- First instalment for BNG from Canamenns
- Ravninnoe rig mobilisation
- Galaz update
- Possible BNG rig contract announcement
- New Broker note from Matrix (or maybe October)
- Ravinnoe Spud 1st well
- Possible BNG seismics results
- Galaz, Ravinnoe volumetric updates
- BNG seismics results
- BNG volumetrics
- Ravninnoe spud
- Potential Ravninnoe mobilisation to 2nd well?
- BNG rig mobilisation
- Ravninnoe 1st well update
- December BNG Spud
- Further Ravninnoe updates
Second installment from Canamens due
Keep in mind:
(1) They have a new broker who is trying to get them onto SETS (This is so it can behave much like MXP)
(2) I have tried to trade it before only to find out that when its time to buy again I can only buy in 100 GBP parcels.
(3) I am noticing there is low liquidity in this stock (most of it is in the hands of Kazakhs that want a mininimum 65p per share for it)
I don't know where its going it is the type of share that 1 million shares will push it 5% and next day 50,000 shares will push it another 10%. But it should return to the 20's in the near future with some tipping 40-60p at end of year (on back of BNG seismic results), although I would like that to happen I would be happy with 20-30's given overall market conditions, I do expect to see some profit taking on the way up of course.
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