Many thanks Andrew Hockey for your service to the Company...........congratulations Simon on taking over as non exec Chairman......& well done James Parsons for the display of confidence in Sound Oil..........buying is always better than selling!
It's a difficult one but basically I think it's when a purchase or sale is made on news that is only privy to directors and will have a major shift in the SP. With us it's very difficult but in general a lot of information is out there and well documented, so for example if an announcement on casa tomorrow we are all expecting news if today it was announced we were being taken over then that would be dodgy
I think that any news already announced as being expected or on-going - this includes the Badile farm out - would be OK. Also any news dependent on a third party over which SOU has no direct influence or control - such as issue of permits, is also OK.
So with all the expected news flow, JP could well have made a very prudent investment?
Agreed Ajax - always good for the board to show faith. As to Joe's point; the accounts are out, so closed period over. Also we have a very open and detailed set of objectives, so any confirmation of significant deals like farm outs etc. would not come as a big surprise to the market imo, but I think you can discount something huge like a takeover brewing in the background.
I'm not 100% sure about the rules on this.... If we get first gas from Casa Tiberi tomorrow I suppose we know it is coming therefore Director purchase ok? Same with Nervesa farm out....... But any new news re SMG or Badile must be a while off otherwise Jp would not be allowed to buy. Is this correct?
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