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The bid has risen slowly, while the ask has stayed put.
Nice to see a few buys being bought under the radar and the spread tightening.
slowly catchy higher share price
think admin has gotten pretty wise on most of the non-holding trolls. some as you have seen have been banned. btw you mustn't ever give your personal details to them
PC - I see the Gunfight at the O.K. Corral was called off when the 7's post got deleted lol
Disruptive? Argumentative certainly, but who isnt! You seem to have given up a little easily on our side bet...lots of twists I'm sure before 31st march...
PC01 - I am a little rusty on this but recall that subject to what is contained within resolution the restrictions in UK are based on weighted average price in 5 days prior to purchase with a cap on price paid of 5% above that average. Like you I do think it could take some time but I also think that with the growing cash pile the SBB may not be limited to $10m as that is described as a minimum level. Also, it would not surprise me to see a special dividend paid at some stage depending on other plans which we may not be aware of to deploy the surplus cash now being accumulated. Whatever happens this company will receive greater interest from new investors/traders incoming weeks and months that I have no doubt at all so a lot to look forward to now.
In the US there are v specific rules regarding the actual practice of a SBB ... for eg the company buying back shares can only buy 5% of the days volume, it can’t pay the highest price, it can’t buy shares in the last 30 mins of trading. I am fairly sure similar strictures exist in UK but can’t find them ...any one help? Reason I ask is that when (note change in language from if to when!) SLE starts its SBB - if it can only buy 5% of the daily volume its going to take a very long time for it to buy $10mm shares back...
Say 500k shares / day is average volume
Say 30p starting price
5% is 25k shares which at 30p is only £7500 or say $10k.
To invest or better spend $10mm will take a 1000 days !!!
The point I’m making - in a rather long winded way - is that the company is going to be on the bid for the shares for a v long time...nice thought really!
you will be relieved to see, PC01, that our SP is rising by virtue of that most conservative of drivers - solid buying. with the SBB now on the immediate horizon along with the newsflow i refer to below, it is difficult to see what will stop this trend now.
he certainly has bluerill and well done again. and am sure he will be joined by many more and soon now given the prospective newsflow from here. to remind, we have about £50m in the bank and by mid Feb, we should have started the share buyback and be getting operational news updates at very least on the lateral well drill and on much else besides. for the first time in years we do not appear to have any black clouds on the horizon. the fact that's where we are now, just as our partner jite okoloko gets almost all arrears paid by NNPC and refinances himself, is incredibly potent. for the first time since before Shell left, we can properly start delivering field workovers and elimination of pipeline losses. remember production on OML18 is projected to more than double to over 100,000 bopd and that's without new discoveries.
To coin a well known phrase - I do love the smell of Pinot noir in the morning...now where’s my good friend B7?
29.90p
Slow and steady wins the race :)
....and I reckon he has company.....
you flatter yerself all you like bs. the thought of scurrying squirrel activity as some kind of reliable indicator of San Leon newsflow improving is just hilarious after all this time of their garbage trolling on this stock! (but they do also serve the purpose of providing something easy to chew on in the gaps between news). well done to bluerill on finding buyers: we should all make that a new year's resolution.
Why do you post hysterical mumbo jumbo then bs? Trying to scare off potential PIs having a sniff about SLE?
The share price ground a bit higher today because I've managed to create a couple of buyers of late. That's it. Nothing more to see here......
bandit1 - surely we flatter ourselves if we think anything observed/posted or commented on through this board acts as a driving force in raising the SLE share price - second-hand information, biased opinions, and trolls are here at best - RNS is the nearest we have to reality. Following the all be it limited news via RNS however it does seem that OF is making some attempt to recompense shareholders for their patience in remaining invested with the company over these last years the results of which will albeit be rather will be meager compared to the losses some of us have experienced is better than what we have received in the past and hopefully bodes well for the immediate future.
It would irritate the hell out of me if what got this SP finally moving (and someone is having a poke at it today) was Bandit1's post...I mean we can talk fundamentals and cashflows til we're blue in the face, but what moves the market is troll-blocking! Sigh...back to my day job, methinks....
Actually sod it. I don't care what drives the price higher!
Pinot noir anyone? :-)
awesome post bandit1. hilarious but certainly strong correlation of late between improving fundamentals and newsflow and the level of desperate squirrel activity. agree definite buy signal.
Bandit---i was going to post something similar myself.
-
-A SBB is heading our way -----$10 mill worth of stock is needed, and the gloom merchants are coming out of the wood work.
-Doesn't take much working out, ----there's a big buyer there (been there since 23p)---just follow the money
Just follow the money
...you mean hysterical as in shreaking out meaningless utterances and desperate as in trying to drag very possible bit of fake negative news out of the ether when all fundamentals are looking so good? you really don't need me to answer that frus, now do you? btw. you got your head round all that share buyback stuff yet? i appreciate that's 3 questions on the trot which might be challenging, but don't take too long or events might overtake you
One of my buy signals has been triggered here again today which I have developed over the last 5 years or so on LSE. If I see more than 6 red filtered blocks on 1-page of postings that tells me that the trolls are working hard on behalf of someone to keep the price down so that they can buy in at the lowest price possible. That, in conjunction with the most attractive fundamentals we have seen on SLE for some years means that I will increase my holding further in coming days and weeks.
Post sounds hysterical Timbremner or Blackswan. Oh and a bit desperate.
Two good post's from you and I agree with you about PC at least you can exchange views with him without having your ollacks crushed and your character put in the shredder. Was going to tell him myself but you have done an excellent job
Crippling losses? If the losses were crippling then how would Eroton have the cash to complete payments to SLE? If the losses were crippling why would Eroton be receiving payment from NNPC, surely they would not have been able to export any product to receive payment if the losses were crippling? Yes there are losses but obviously not crippling, if they were crippling then Eroton would not have the cash to consider improved export, surely eh Black Swan? Being a bit shrill and hysterical yet masquerading as balanced commentary? LOL as B7's void would drool.
Let's just contemplate reality for a second and take a break from the hysterical black swan fantasy, if the losses were crippling then SLE would not be about to complete a share buy back using 50% of free cash generated from Nigeria activities (as promised by Oisin, jam tomorrow?), Eroton as operator would not be drilling and NNPC would not be paying Eroton for arrears, what is your agenda bs to be given to such hysterical language which in the harsh light of reality amounts to the alternate meaning of the abbreviation bs, good name eh. LOL.