every deadline, real or imagined puts pressure on XEL BoD, and downward pressure on the sp. Their apparent failure to attract institutional support - even as an act of faith - means that traders have free reign to push the sp lower. if nothing changes, we're heading to 80p and a low ball offer of £2.
The most important news item may turn out to be what the Chancellor does? Rosebank and Bressay suspensions have piled the pressure on him. How will react, especially as we are on the run-in to an independent vote.
I would not be surprised to see a reduction in the Supplementary Charge and other incentives for N Sea operators trying to develop harder fields.
The fact that XEL held off so long from announcing results must mean they were close to announcing some other news. It is not beyond the realms of imagination that whoever wanted to farm in decided to wait to ensure there were no nasty surprises from the Chancellor!
If we get the desired RNS starting from sub 100p it will most likely offer every man and his dog the chance to join the ride at around 120p, I hope we get another lift to the 120/130 area before the real big bang arrives. I can see why so many have left the old long term investment behind and trade more frequently these days.
I reckon the reason Q3 results came at the very last possible day was because Xcite were waiting on information/news to share! Obviously the news didn’t arrive on time but reckon it will very soon. Like most, I was also very annoyed on Friday, however I think Xcite are still very close to releasing something soon!
17^% down in 5 minutes on Friday. What;'s changed nothing. The only issue is that we sit on the AIM where wealthy City Boyo's can move this very quickly where they want to. I shake my head constantly as to how this outright manipulation can occur. All they are doing is attempting to rip money and shares from the PI's. Legal embezzlement is what comes to mind.
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