Just reading the recent Half Year Results RNS the BoD has stated that they will keep shareholders up to date with regular news, and are proactively working on providing more news to shareholders. The likely news that we can expect up to and including Q1 2015 includes: 1. Appointment of new BoD (including new CEO) 2. Outcome of Adler participation in the direction of the company (we can expect a strategy update with this) 3. Update on two new wells being installed at Petrosakh to increase production (expected to be online by Jan 2015) 4. Production stabilisation of both fields 5. Oil sales strategy to increase profitability 6. Repayment of Petraco Loan and subsequent state of being debt-free 7. Implementation of new development programme for ArcticNeft 8. Update on any M&A targets or news
The only downside I see at the moment is the price of oil and the netback received hitting our profits. I don't think the end of year accounts will be pretty if the oil price does not recover to c.$100 per barrel soon. The biggest news that will affect this share will be the OPEC / Saudi decision on 27th November!
There was quite allot of sellers the other day,most likely locked in by the last rise. However today we are low on volume. Very little sellers. The buyers are pushing this back. Some buys the other day where larger than today's total volume.
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