The recent price movement above 4p is welcomed but long awaited, after sitting at 1.3p for months. However recent drilling results and oil flow indicate that what was hypothetical speculation is now proving to much more likely be reality and confirming a massive oil field under south England's green and pleasant land.
Recent drilling results adding to data of suggested extent of the oil field combined with successful fund raising earlier this year giving a sound finances see through developments to production phase plus sector confidence that this project is more than just speculative.
this is trading at a very high forward PE ratio. brokers forecast 0.6p eps for full year to march 2017 - PE ratio 79 at current price? it's not natural. sell, and buy back at 6p, which is where fair value begins, at PE ratio 10. be very careful buying now.