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Another raid today?
Can see a few 150k buys going through
The cancellation of other licences is a red herring, any business impacted by that could seek redress in US/UK courts depending which jurisdiction covers the contract law (it will not be Guyana) and then attach to any payments Exxon are to make to the Guyana government to receive redress.
Just look at hedge fund treatment of Argentina default. Any decent lawyer could argue the redress is based on geological chance of success and the settlement to Eco would be in the billions. In a US court youd probably get some punitive damages too!
May be just a market correction to push us no to about 44p in the anticipation that total will push Tlw to drill 2-3 wells this year
the " cancellation of other licenses where there has only been exploration drilling and not in production" is pure BS.
No pump and dump here then, yet. Makes what happened last night even more intriguing....wonder why no news yet then
lol
Prickolenes - do you work for the Guyana opposition party
Well, have to wait and see if there is news. If not then its likely a pump and dump so someone could sell out as much as possible.
There are reasons behind the scenes that could make an urgent exit desirable, not only have you got this new EIA requirement before any more exploration drills - but the Guyana elections are on March the 2nd. The opposition PPP are intimating renegotiation with Exxon and also cancellation of other licenses where there has only been exploration drilling and not in production - which would put a massive risk over all license areas. So if someone gets a sniff the PPP might win the election then there is a very urgent reason to dump stock. The pump and dump is a great way to offload a lot of stock for a better price, before you have to dump the rest for a much lower price.
That’s my hunch...
For what it’s worth, I think the directors are buying in. RNS to follow tomorrow.
Maverick
In the absence of clear news I'd expect many holders to be selling on such a.spike. for a pump and dump it needs 1.8m people buying. Others who have bought in on lows may have set sell.prices at higher levels to be disciplined and take gains and those would have been taken out.
Looks more like an accumulation simply because I.dont see the.demand there for a pump and dump- this is 55x Fridays volume on TSX from memory.
Whatever it was - someone knows something to create that volume - at the moment it looks negative to me
Maybe pump and dump for mates on lse today
I think James is right. Volume is too high! It's very odd though.
Certainly seems to be something odd, not sure .pump and dump goes that way to create 1.8m volume in a couple of.hours. people normally have sell targets not buy targets.
Something similar happened in reverse last year on the way down.
What I see.........closed at 0.61 CAD which is down 7.58%..........
Looks like someone wanted to sell out and created and Pump and Dump............