I love the line at the bottom of the trade screen "Buys and Sells are calculated on the difference between the trade price and the current mid price. As such, they can occasionally be incorrect". Only occasionally, my backside, it normally depends on how many porkies the market manipulators want to tell. I hope the 900k trade was a buy, Joe is usually on the ball with the trades, that's a pretty big sign of confidence. I wonder if JP's brother in laws, best mates, Uncle has heard something we haven't, wink wink.
On 21 May 2015, the Company announced the publication of a circular (the 'Circular') in respect of an open offer to eligible shareholders (the 'Open Offer'). The latest time and date for receipt of acceptances under the Open Offer, as included in the Circular, is 11:00 a.m. today. The Open Offer has, to date, received a strong response from eligible shareholders.
JP must now know how many shares have been applied for, most probably well oversubscribed. He doesn't officially know if N2 will be commercial but is very confident. He releases an RNS which states low permeability, which he fully expected. The weak fly the nest and his long term faithful get to hoover up the warrants. A long shot I know but a theory non the less.........
Which is what some people have been saying all along. They are addressing the same structure makeup as N1 and therefore its not unexpected that N2 plays out in a similar fashion - what were people expecting Badile? . James has tried the upbeat super positive RNS before and look where it got us - so I will let them do their job and wait on the actual results for this second well. We already have one well coming on line this year and if this one turns out having similar flow rates then it wont exactly be a 'shock horror' moment. The only difference I can remember is that there was potentially more gas in this half of the structure - not that it would flow more quickly. GLA
Shareinvestment............I agree, I'm a lot less concerned than I was at the start of the day. I'm quietly confident N2 will be ok, we didn't seem to have this worry on N1 though. If this is a similar situation to N1 than I would rather have had the RNS's worded the same as then. More professional for corporate clients isn't floating my boat if it causes a big drop. I trust JP and nothing has changed to change that. If we do end up with a duster Id much rather it be N2 than badile or Tendrara. I'll sit and wait with fingers crossed.
By the way James also confirmed that stimulation techniques were also used on the first Nervesa well. I think that we should therefore assume that Nervesa 2 will come along in a similar fashion to N1 and really celebrate the fact that we have now also got the very exciting Morocco potential. As mentioned before this is a buying opportunity for the ones with a medium term horizon,
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