That may well be the case but we have certainly got Statoil thinking! Read this extract from the recent interview with Tom Dreyer:
"When this EWT data was revealed detailing above average production it was Statoil’s duty to investigate.
Following extended conversations with DECC, the business was able to hold onto the license, take into consideration the implications of the test result and will be able to deliver a well development plan again at a later date."
"Above average production" are the three words that jumped out to me, and being as we didn't compromise our IP with the data sale and they (Statoil) have extended their licence I sure as heck think they will be a JV or some form of Statoil/Shell deal which will show it's hand before not too much longer........
Major, re your points: The options were priced in Canadian dollars, so I used today's Google rate CAD/GBP 0.5471 . (This is about 93% of the US rate.) On the second point, I agree that the tranches have the expiry dates you quote, but I believe that it is the Director's right to access those options that will expire 'shortly'; having elected to retire, as RS did earlier, the opportunity to profit is not open indefinitely and the rump of RS's options were in the "total of 1,140,000 options expired unexercised" in 2013. Look for Rog's expired options in the total for this year. Remember also now that they changed the rules last year, and it was approved at the AGM, such that they keep the option if they are in a closed period and have until 10 days after the period ends to take up 'expired' options. All IMO GL joe PS Anybody know if the Bonds are being traded. Reward is better than any ISA product.
So the 650k have expired and also the 100k (£0.06 and £0.16 ones), unless they are falling under this relatively new rule we implemented:
"On 18 November 2013 the Stock Option Plan was amended to extend the term of share options which would otherwise have expired due to the Company being in a closed period. The amendment now enables an unexercised share option which expires during or within five business days of a closed period (in accordance with the Company’s Share Dealing Code) to have its expiration date extended to be the tenth business day after the expiry of the closed period and applies to all outstanding share option awards made under the Stock Option Plan."
Anyone still think we are not in a closed period and haven't been for sometime?
Those 16p options are the giveaway imo.........They belong to Timothy Jones?? I think so
AIM's a c**p market play on the stock, the BoD are responsible for effective management of the company to the best interests of all stockholders. Their competence, or otherwise as the case may be, is a likely reflection of the sp and it's volatility, sadly to the downside, merely reflects current public perception of same. Jmo.
The BoD share dealings going back to the 12/10 384p fiasco, RS's subsequent standing down as ceo, the priced issue of staff options, the chairman RR's 2014 departure, their MO and timings stink. Just what have they been hoping for. There's a lot going on in the background at XEL, in particular related to the delays in moving this pig forward to market since the touted old plan, EWT, and failed appearance of any white knight, that stockholders seem not privvy to. NDA's, MOU's and all that c*@p appear to be simply palliatives to stymie the company's timeline to production. Jmho..
The Options cannot be 'freebies and part of his severance package' because they would have had to have been announced before they could be taken up. This would have affected the 'fully diluted' value of the SP and the company in the event of a T/O. So, whilst not all details are provided in this RNS, we can surmise from previous info that these are the former Chairman's options. A Chairman who never bought or held a share, ffs. We know that of those 840k options he was awarded, only two tranches are in the money. 100k@C$0.74 (40.5p) 100k@C$0.68 (37.2p) Total cost for 200k £77.7k. Market value today - c.£130k.
Question is 'Why today, and will he sell on Friday?'. Is it likely that he would have 3 months to take up options before they expired? We were informed on May 8th of the BoD change, and it was not listed in the AGM circular in April. Is it a vote of confidence to entice PIs to top up their ISA, surely not. Is it because there is a window in the news now and his timing would look 'less informed', he will be aware of the situation in May and projected timescales. Or the conspiracy theory of your choice, lol.
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.