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Very sorry looking share price today. I think that there are undoubtedly bored sellers (and it's hard to blame them TBH), but the fault here really lies in the BOD and their lack of communication.
This has really always been a binary play on them doing a good RTO, but as the markets are doing so well elsewhere the opportunity cost is getting bigger and bigger for not taking part in other parts of the markets.
I only hope that those of us who have held, we are well rewarded for it.
A rise in the oil price has seemed to prompt a mini exodus. They're not even waiting for the FY results :/
Grim isn’t it!
Man the lifeboats !
Well, let's see what they say on the 23rd in the FY results.
If they haven't done a deal by then (and I won't hold my breath), I'd like to see them actually present a more detailed outlook:how many deals they're currently in negotiations on, general asset sizes in BO(e)PD terms, financing, furthest advanced deals, etc.
The "we're sticking to our strategy and leveraging industry contacts" simply isn't enough to go on after over a year of waiting. Particularly, because while it has become more popular to do as much of the raising and deal related paperwork in the background to prevent very long suspensions, I think we'll have a few weeks of suspension at the very least on any deal.
There are a few other things too in addition to the strange trading patterns.
Why take on Synnove Roysland as Drilling & Well Advisor on a permanent basis in December when they haven’t signed a deal? I understand they may have wanted to consult somebody if they were analysing an opportunity but not appoint somebody to that role permanently unless they actually need one!
It’s also interesting that the website has been getting periodic updates, albeit minor. WS mentioned the ESG addition recently, and there have been others too.
It feels like there must be something material happening in the background but there is absolutely no sign of it in the share price other than what seems to be a concerted effort to keep it down at 70p.
Maybe I’m becoming too much of a conspiracy theorist too - probably just bored!
On one hand I feel like a massive conspiracy theorist believing this is all being manipulated to keep the price here, but it just doesn't make a lot of sense on its own.
For example, how that person sold 15k at 70p I have not a clue, as it just hasn't been that liquid at any point today for me. Add on top of that how loads have been sold at 70p and yet they won't shift the bid to below 70p and something just doesn't add up.
So the story of recent days: ramped up by twitter's finest, only to be slapped down by Blackrock who weren't having any of that pre-deal share price rise nonsense, that would affect their placing price and bumper pay day down the line.
Weird, as they'll now take 10k shares at 0.7035 before it goes NT.
Odd that they'll take that now, but would basically bid nothing for me for more than 150 shares for two days.
Was that you getting your order filled Coldjoe?
Yes good point WS. It will be interesting to see what LBE go for if they ever get a deal over the line, and how they approach the ESG aspect.
As an aside it's amazing that some people are willing to sell at 70p today when they wouldn't a week ago at 84p+.
The price difference likely reflects more on the fact that Kistos have positioned themselves as 'energy in transition'.
Longboat are going to have to show their ESG credentials as IIs are coming under pressure to reduce their funding of carbon companies. With that in mind, it is interesting to note that the company has today added a new page to their website where they advertise their ESG committments.
Our non-exec director Katherine Roe also recently took part in a discussion that is really worthwhile listening to, about the future for Independent oil E&Ps, which you can check out here:
https://naturalresourcesforum.com/companies/chasing-curve/
Discuss
Kistos are now up 78% on their IPO price with a market cap well above cash levels, whilst LBE are 30% below the IPO price and trading at cash.
The market evidently has more confidence in AA than HH.
tried order but was rejected, now I can buy £7k at 73.99p but somebody just sold £4k at 70p so I might wait
2021-03-04 13:29:38 70.00 5,951 £4,165.7
You may need to break it down into smaller chunks?
Have you tried a market order for that?
If they can't offer 13k shares now then it adds fuel to my theory that most of these sells are transfers for some form.
somebody sell guys, I have order for 13k shares at 74p but it does not go through