I would presume that the 41m was the final creditor sell off yesterday (probably most of the order was already partial the day before). We know that the creditors were looking at selling around the 0.17's, and this sell fits the bill. My post on Thursday at 15.12pm:
''My best guess on creditor shares sold is as follows, long margin both ways for error of course:
Creditors total shares = 161,068,992
Sold from 15th June on = 86,250,000
If forward sold from 09th June (very likely) = 124,000,000''
Therefore if the sold forward figure is correct, and yesterdays delayed were creditors shares. We have our total done.
Another sign was Cantor Fitzerald, they forced the share price down to 0.17 for the last two weeks, they also controlled it on the ask, whenever the price would move up, unloading creditor shares to control.
Yesterday at 9am, CF switch position over to the bid for the first time in weeks, and remained there all day. Putting those two situations together I would guess the creditors shares are all fed in. This will allow the stock to go back to normal market conditions, with no overhang, buys will need feeding.
OAT - would you mind giving your view on this please and also what effect it may or not have on the SP. I know it is showing in Blue but could it be a large chunk (and the last of the) Cantor Sells from Creditor shares - and hence the reason Cantor switched to the Bid? If so his could this be good news?
"Well GY-673 spudded on 1 May and located 650 feet of Mayaro and 140 feet of C-sand pay. The final well on Pad 4, GY-674, reached total depth on 11 June with 492 feet of Mayaro and 277 feet of C-sand oil pay. A 30-foot core was cut in the C-sand reservoir with 92% recovery to be used in reservoir engineering studies associated with the potential EOR project. The rig was then moved to Pad 5 and operations commenced on Pad 4 to bring the first three wells on production.
Drilling on Pad 5 commenced with GY-675 on 15 June which reached total depth on 30 June with 330 feet of Mayaro Sandstone and 260 feet of C-sand net oil pay observed on electric logs. Well GY-676, also from Pad 5, was drilled in July whilst extensive production testing operations were carried out on the Pad 4 wells. Reservoir quality and oil production data from the Pad 4 wells fell somewhat short of the pre-drill expectations and resulted in the decision to deploy the final well of the planned program, GY-678, on Pad 3 in an area of the field which is known to have better reservoir development. GY-676 showed the presence of 250 feet of Mayaro and 222 feet of C-sand pay, and the final well on Pad 5 in the north east of the field, GY-677, revealed 355 feet of Mayaro Sandstone oil pay and 130 feet of C-sand pay."
When did the Bod release a news update on the GY-673 recompletion?
I'm aware 671 is being tweaked and 50 (imo) is long overdue, judging by the timescales / depth that 671 adhered to.
And I'm aware there are a further 6 applications being made but I've clearly, massively, overlooked 673 being mentioned, which is perfectly fine by me as it's potentially more 'oily' than I was aware of.
The UK referendum is overshadowing share prices along with everything else. As far as the outcome affects equities, it’s generally accepted that a vote to stay will see stock markets rally, while a vote to leave will result in a sharp sell-off. This seems reasonable, if only in the short-term. But there will be individual winners and losers and ultimately the overall effect on the FTSE100 could be limited due to its constituents having a heavy international exposure. The share prices of big multinationals that derive a significant proportion of their revenues and earnings from countries outside the EU are likely to benefit from a leave vote. Quite simply, money will flow from stocks with direct exposure to Europe to those more internationally facing. Consequently, pharmaceuticals (such as AstraZeneca, GlaxoSmithKline and Shire), oil majors and miners are likely to benefit as could companies with low exposure to the EU such as Centrica and Prudential. But airlines and tour operators may suffer selling first with questions asked later. Those at risk include EasyJet and Carnival. In addition, companies with a purely domestic focus are also likely to sell off. This is because it’s widely thought that UK economic activity will slow on the back of a vote to leave. This list would include housebuilders, property companies and domestic banks such as Lloyds.
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.