Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
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Very premature. MA, hardly your finest hour unless the three projected 600 m laterals' results are nailed on. Bad vibes to many
The usual rules about FY results apply, nothing new in the numbers but last year was a real cracker for Arrow as seen in this detailed release. Looking at the post period end achievements Arrow has continued to make strong progress, production is increasing and the rig is being mobilised to the CN B pad in order to start drilling the company’s first horizontal well.
This is one of the 16 fully funded wells in the programme for this year and the wells include the potentially exciting horizontals as well as Baquiano and Mateguafa Attic prospects. I am writing a background piece having visited Bogota recently which shows just what an excellent set up Arrow has in Colombia. Finally on technical market terms it was good to see the Canacol stake placed last week and into friendly hands.
https://www.malcysblog.com/2024/04/oil-price-arrow-jadestone-beacon-sdx-i3-petrofac-and-finally/
I'm in for my first £9.5k's worth
Think its an opp of fill your boots whilst the herd are somewhere else. AIMHO
Wasn't the impairment that has brought the price down a non-cash item? "As at December 31, 2023, the Company reviewed its cash-generating units ("CGU") for property and equipment and determined that there were indicators of impairment loss in its Canada CGU and its Capella block in Colombia and recognized a loss of $11,799,740".
Great end of year report and we are down 10%, AIM continues to confound me with great regularity.
"experiencing a remarkable 60% increase this year alone"
35.67%
I have been talking a bit about the fact that the 21.2% stake in Arrow held by Canacol was up for sale and I am glad to see that the cross has just printed at 18.5p. Talking around I think that Canacol sold to an institutional investor and associates.
Arrow is showing a change in trajectory now that this stake from former founders Canacol Energy is now held I understand by a new group of investors lead by industry veteran and independent energy investor Gavin Wilson.
Arrow, a notable performer, had surged since its introduction to London’s Aim market in October 2021, experiencing a remarkable 60% increase this year alone. Canacol Energy then revealed its intention to sell assets due to balance sheet pressures, initiating the stake’s availability last month impacting the Arrow price.
This change of investors is likely a source of satisfaction for Arrow, as the stake had been casting a shadow on the market, causing shares to dip from recent highs. With the stake having been hanging over the market, this clearance today, and to a highly respected investor is clearly good news.
Chief Investment Officer Gavin Wilson’s extensive experience, coupled with his involvement in other major invested companies such as Afentra, TAG Oil, and PetroTal Corp., further solidifies the credibility of this move. He has built up a reputation for supporting smaller exploration companies and offering expertise in the sector, often taking a board seat, that results in turn-around results for world class energy investments that have latent potential. The placement signals confidence in Arrow’s potential.
Arrow has been a favoured stock of mine for a while and has been on the Bucket List almost since it came to the London market in 2021. Having fallen from the recent peak and with stability back in the market place I suspect that the shares are now looking very attractive.
https://www.malcysblog.com/
Somebody has already made a very nice profit!
What a chump! I missed a rare opportunity at midday. And we all knew it was imminent.
Well the good news is that we have gone up since the very large sale, now we know what has been pushing the price down for a while. Canacol needed the money rather desperately for their business (nothing to do with AXL) so it was likely to happen and is now out of the way without to much damage. Onwards and upwards.
Canacol Energy's 60,072,807 shares have been transferred to a new holder
Can only be Canacol Energy Ltd. selling, I can't think of any other holder with that size holding. Something in the wind we should be aware of?
Couple of rather large sales just gone through :(
It is thanks to MT on ADVFN that I become aware of LaLuna shale characteristics and composition . . . well worth study if anyone is considering wider investment in AXL. And political weight / leanings have to be reckoned with.
https://www.sciencedirect.com/science/article/abs/pii/S0921818121000096#:~:text=The%20La%20Luna%20Formation%20%28Albian-Coniacian%29%20is%20a%20series,periods%20of%20oceanic%20anoxia%20in%20an%20epicontinental%20sea.
Several papers appear on the subject.
This is interesting: https://www.reuters.com/world/middle-east/us-allies-plan-more-iran-sanctions-israel-war-cabinet-meet-again-2024-04-17/
Be interesting to see if Israel dares to attack a country that actually fights back. Oil to hit $150 a barrel? Maybe Biden has done a deal with Netanyahu…they’re both up to their necks in genocide.
Hazbeen,
I wish for world peace and plenty for all of humanity. However, the truth has to be faced. Russia has won the Ukraine war, yet Zelensky may still do something crazy like repeat the attacks on the Russian oil facilities. Similarly, Israel may attack Iran directly. We have China challenging US hegemony and god knows what else. Having some oil is a bit like holding gold at times of geopolitical change.
We’ve come very close to nuclear war in the past. If Israel manages to someone embroil the US in a war with Iran, Russia won’t let Iran be destroyed like Iraq. Even the increasing likelihood of it happening following rash action by Netanyahu will send the oil price flying up. And of course, Netanyahu has shown that over the past 6 months he is not a rational actor.
Which of us would commit genocide and use Biblical language to justify it? The most worrying thing is that Biden and even our own (unelected) PM Sunak are still backing Israel v. Iran.
Do not ever want to see $150 oil
Will have huge global implications economically
Any Middle East be be dire for all of us
So do not wish for high oil prices directly or indirectly
Extrader, I'm just calling it as I see it. Israel won't be sorry to see Trump win and this conflict has been caused, deepened and prolonged by Israel with the aim of dragging the US into a war with Iran that enables it to build a 'greater' Israel. I agree it's not logical and damages US national interests but Israel is a like a mad dog that is out of control and the Israel lobby has even more power in the US than in the UK. Committing genocide to maintain Apartheid and steal land isn't normal behaviour, is it? (Okay, the US got away with it with the Native Americans as did the Russians centuries ago - but this is 2024 and we can see it live streamed and it has been recorded by the ICJ).
Forget the mainstream media analysis. These are the same people who told us the Ukraine war was all Russia's fault and that Ukraine was going to win NATO's proxy war v. Russia.
If the Israelis are stupid enough to provoke Iran again they'll enter a world of pain and oil will rise. Don't forget this was just a slap - no civilians killed and full warning war given by Iran. Even so, missiles got through hitting military targets. The despots running Saudi, Jordan and Egypt owe their allegiance to the US, but the people are with Palestine. I doubt they will dare go to war v. Iran in support of Israel.
The oil price has to rise if the market thinks Israel will dare to attack Iran directly. Israel will probably do something as it believes it has to maintain 'deterrence', scaring its neighbours into submission. However, this hubris is leading it to disaster.
And I forgot China, which benefits from uninterrupted oil flow from the Middle East.....
Where does the fact that Saudi joined the West (and Jordan) in repulsing the Iranian attack on Israel fit into your world view?
No-one is interested in super-expensive oil, which damages Biden's (cough) election prospects ...and benefits Russia.
'It's complicated'.
ATB
Where does the fact that Saudi joined the West (and Jordan) in repulsing the Iranian attack on Israel fit into your world view?
No-one is interested in super-expensive oil, which damages Biden's (cough) election prospects ...and benefits Russia.
'It's complicated'.
ATB
The US confirms at least 9 ballistic missiles hit two Israeli military bases in Negav. If anyone is trying to save face it is Netanyahu and Biden. Just like Russia, Iran doesn't mess around. I just wish the UK was on the right side of history on this one.
If Israel does dare strike Iran again we surely get $150 oil. But as Biden is reluctant, I am wondering if we get a false flag attack (like US blowing up Nord Stream and blaming it on Russia) to try and get US on board for an Iran war. If I was the US I'd put my embassies on high alert.
It was a pre warned attack to save face
That’s why the missiles take out so promptly
It will calm down now
Just political games for now
Well, Iran struck as promised. Israeli 'deterrence' is now dead and even the US doesn't want to mess with Iran directly. The same geniuses that thought Ukraine could win NATO's proxy war v. Russia are trying to call the attack a victory for Israel. Look a little deeper and you'll learn that despite all Israel/US high-tech anti-missile defences, Iran took out some military targets.
I believe Israel will continue on its reckless path to a wider war as Netanayahu and his zealots will want to restore deterrence. Bull oil price case therefore remains. Views?