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I think we will half trading too as CVN. Hopefully they hit the reservoir top yesterday and found oil and need a bit more time from now to Friday to reach the bottom and be able to release the height of an oil column, but anyone’s guess at present. Let’s wait
@dai, can’t remember if it was a tip off it was whilst wee were waiting on he1 I thought I could make a few quid whilst waiting on the drill results.
I think tomorrow the sp will fly snd then you won’t see much sp chsbge when it’s finally announced. Good chance to make money without the risk of the result
13th July CCZ announced their ASX listing was halted pending exploration results but the UK continued trading..
Will be interesting tomorrow, especially after the 2x£230k trades a second apart
Not sure we will halt..
been looking at the 3pm 2 big trades, if they are not delayed are higher priced than the trades immediately before and after..look to be OTC being off-book xoff..
looking at the 1 minute candles about 14:55 there appears matching price trades also at a peak..
but who knows
They are not obliged to suspend as no material news has been released…. After hours tonight imo , before market opens uk
My interpretation.
They've encountered the Elang and initial shows of something. Oil hopefully. Hence the trading halt. Now they are wireline logging. Hence the delay while they see what they've got.
All positive so far for me. But I've got fingers crossed aswell.
FWIW and IMO, I think we will be suspended in the morning. Having a partner under strict rules down under would only transfer any 'leaks' related action over to us. The risk of any Unusually large trades (either way) is unlikely to be permitted and company must act. I am OK with this as come what may I was/am committed with ADV.....
GL all.
If it was unsuccessful I don’t think they would announce so quick into the drill ….
21 sounds close, they were drilling the 120m section Dec 31st, after completing the surface casing..
@KevinRound, You followed a tip off from a poster to ccz ?
@Lobon that’s true… they could just use the window between their close and our open to announce. I’m not sure how easy it is to suspend a stock; I’ve not seen it very often on LSE
Sniper
I don’t believe adv will suspend however I believe cvn will announce after hours tonight
Trading halts are standard practice in Australia, mainly around funding and placing.
Asx rules state ….Typically, this will arise where a listed entity has become aware of information that a reasonable person would expect to have a material effect on the price or value of its securities but it is not in a position to make an announcement about the information to the market promptly and without delay."
I remember ccz did the same thing when they announced the news of their big discovery the uk went wild (I lost load on it).
I believe in Australia it’s commmon for trading half’s most likely to prevent leaks like he1. Hopefully news will follow later this week
Adv will also be suspended unless the results are given by the opening UK bell. We’re locked in ladies and gentlemen. If this were a duster, would we know just yet? You’d like to think they hit pay reasonably early and the suspension of CVN and large trades indicates a 3c case… but adv did drop 10% today too. This one could go either way. You’ll never get around insider trading sadly and the majority of those in the know are already out or have doubled up. GLA - LP will now either be trusted or has delivered a fine performance out of the DM playbook. Oh and Brent is touching 89$ a barrel…. So if we do have the good stuff squirting - we can probably double our NPV
If the results were bad why do you need to halt trading?
Does anyone know a case were the results of a drill were bad and the trading was halted??
looking at the announcements Dorados big news came the day following the halt, not long to wait....
It is illegal but they never catch them because the system is corrupt and closed off to the little guys.
Could all be riggers trading on their phones, boosting their bonus
Massive trades.Someone knows for sure.Must be nice to be in the know.Thought if was illegal anyway?!
Will be interesting to see what we open at in the morning, and if there anymore of £230k trades..
Todays top 10, buy/sell not known.
3,027,918 £145,340.06
1,295,000 £62,160.00
1,000,000 £47,750.00
1,500,000 £75,510.00
4,525,883 £230,820.03
4,525,883 £230,774.77
1,000,000 £50,000.00
1,000,000 £48,000.00
1,000,000 £51,330.00
1,167,708 £59,996.84
Psi81from the hotcopper site:-
‘The reservoir couldn't be shallower enough to make a difference to how early they hit it. An hour or two maybe. I'd say they have either hit the reservoir or are expecting to do so today. They won't have wireline logs or any testing yet but would have drilling break, mud log lithology and presence or absence of hydrocarbon shows. Given this is a well understood field that's probably enough to know if it's a hit or a miss.‘
Yes dai. Dorodo was a humdinger. Lets hope buffalo is too.
They got there early, does that mean the column was higher than expected?
I guess the testing has been done..
@amino, Dorados halt was followed by great announcement..
"confirmed a very large resource of oil and gas at Dorado and prolific production flow rates"
Fingers crossed its a positive result for Buffalo too..