Could it be considered insider dealing to not buy shares in a company? AB buys into GGP where he is a director just before there is a rise but never buys shares here where he is also a director. Hmmm. What does he know?
Please take a careful look at the times. The minus 2m is offset with 2 positives... So what you see is a transaction correction. . Look very close and you will see a 500k... Then a 2m, then. -500k, then minus 2m followed by 500k and. 1.5 m... The times are important.
from RNS at PXOG "The Company has today acquired 587,120 new Ordinary Shares in Elephant Oil for a consideration of £100,000, and now holds a 2.54% interest in the company.
Elephant is a UK based oil exploration company with a focus on onshore West Africa. Its primary asset is Block B, an exploration block in Benin. The directors of Prospex have been following this company for a number of years and believe it is now an ideal time to invest. The directors believe the company has made good progress with its asset in this time and to a level that Prospex believe that industry interest may lead to a significant event that can unlock the company's intrinsic value."
It looks like they did but given that Gavin Burnell has an interest in both companies I would assume he got mates rates so Im not to fussed about that. But I think that 10K buy just after 12 has just persuaded me to get in here I think something is brewing. Lets hope so GLA
Think of getting in here as they have been brought to my attention by the rise today. Am I correct in thinking that RRR have a stake in elephant oil? If so have you read the RNS just released by PXOG? I'm interested in the line that says
"The directors believe the company has made good progress with its asset in this time and to a level that Prospex believe that industry interest may lead to a significant event that can unlock the company's intrinsic value."
What could this Significant industry event be? Any ideas that would help me in my investing decision would be greatly appreciated?
Lots of reasons why the price might be going up today. We might get some news on Kenya, and the POO increase is not going to be doing us any harm. With so many assets, no debt, recovering markets, and just a £1M cap SP, the price could keep rising.
Admitted this is AB and he might planning a new investment and issuing discounted shares to pay for it, but he has said that he plans to invest with monies received from other investments.... What he says and what he does may well be 2 very different things judging by the past.
One things for sure, a large rise on small volume either means large background buyer pushing the price up, or MM's playing with price. The latter will see us drop back, the former might lead to a further rise because a large buyer probably knows something we don't.
I hold lots of these so am of course hoping for to seeing a sustained rise, but am also a realist so half expecting to see the sp drop this afternoon.
it will be a sum of money + a ton of warrants which is what PJ wants. the cash for a quick profit and the warrants for when/if price recovers. AB will carry on drawing a wage and buying extra soft golden lined toilet paper. AB boasts about gold price on twitter as if he had any gold lol.
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