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Yes good to see the ASK move up ....Question for our learned posters. AK took an option to buy 100m shares at 1.2p each ....could it be that he has been mopping up millions of shares at a third of that price over the past week on the open market. It would make sence getting them at such a low price ... ??? not sure if this is possible or not ...but replies might throw some light on it.
Feels cleared .. nicely blue. Now let’s see some recovery. What an over reaction last week. Well tests are still underway
Book tightened up a bit and now blue. Fingers crossed
No necessarily, this appears to be a tight ship and therefore if someone is selling then they are selling based on info already in the public domain.
So it's basically yet more red flags you mean ?
It could also be someone trying to close off some sort of position before end of tax year. If they run as a limited co or whatever.. we will soon see.
Hi Siennaj,
In my opinion it's usually quite the opposite, they run short position and this includes the MM. I've seen a lot over the 17 years I've been investing and whenever I see new accounts pop up on here and Twitter I start to become suspicious of something much bigger. Some of the antics may seem a little farfetched but you would be surprised at the lengths some of these people/companies go to change perception and sentiment. I've heard several investors have been contacted privately in attempt to question their investment. It will all come out in the wash but the good news is there is a buyer in the market. I did suspect the sp would settle around this level until we get further comms.
Dan. When you say someone is running a large position what do you mean? Do you mean you think someone is building a large position in the company? Thanks
Sounds about right Dan. Feels like it’s going to churn out around these levels (so far) thankfully. So I guess it’s a case of staying put and waiting, or adding if it seems to clear a bit .. 🤝
I agree smkr, there is a seller feeding a buyer. We've dropped 11% because it looks like the buyer only wants to pay 0.40. Interestingly there are no delayed sells but the MM have a few days to report them. With the 30m sold last Thursday we are in TR1 territory if this is the same seller. Looking at the share register I'm not who it could be. One thing is clear, there has been a premeditated attempt to talk this down both on Twitter and on here, some other investors have been contact privately. In my experience this suggests someone or something is running a position, a large position.
Sienna, my guess, there has been a sell order placed with a broker and these buys around 0.4 and just over are clearing it. I tested dummy quotes earlier today, there was a couple million, they were bought, we went up, then another few million appeared on the book, we dropped back, they were bought etc. So, it will likely need to clear the last of this, which seems to be getting done orderly around here.
Yes it's a bit of a joke with the amount of buys in the past couple of days .... I dont think Ed or any other punter can give us a solid reason for this .... alot of positive posts and analysis over the past couple of months from our ' learned ' friends did'nt add up .... we will have to wait and see...GLA
Ed. I would appreciate your thoughts on the trading pattern. Today in particular. Theres huge amoun of talk today on Telegram about market makers and their antics but its down 11% now and yet massive amounts of buys as far as i can see. What do you think may be going on? Thanks
At least he generate posts. only 25need to be on a hot topic board (top 5) :)
See ya .. until next time under a different name lol 😂
"Price is going down" dream on Sunshine. How's the short?
Another one for the green box (filtered), good-bye
In their latest RNS from last Thursday they said:
"We believe that early 2024 finds Corcel on the verge of a material transformation, with the groundwork for these developments having been meticulously laid over the final six months of 2023."
I doubt very much that they were referring to 70bopd, but more likely the scenario of the presentation. I'd imagine that we'll have a better idea of this material transformation as the year progresses.
Regards,
Ed.
There’s only 6m on offer then it’s nt. Reality check - that’s only 20 odd grand. Just needs a few that see the bigger picture, both wells still in play 🧐
What you waiting for? £20k volume only. no one interested. couple of gambler only. Money is going out from LSE and UK anyway.
The buys are 5 to 1 and we still go down .... ???
I wouldn't bother comparing Corcel to 88E.. More likely scenario would be for Afentra to acquire Corcels interests in Kon 11 12 and 15.
Not sure about comparing with 88e - they've achieved 70bopd light oil from small vertical perforation in an unproven zone.....possibly start of something big in development terms
Corcel hasn't achieved any flow rates......yet
Hi Bladey,
I don’t really know much about them.
Had a quick look and they seem to have lots of projects scattered around but no production?
Seems a very high market cap for the assets they hold?
As you say, if we can get some reasonable flow rates, surely the market cap will go much higher?
88E also has over 25 Billion shares in issues, (jeez), and a crazy Market Cap of £95M. Bring on successful TO14 flow rates and Corcel will hopefully have current price not even viewable in the rear view mirror! Major re-rate will be due on successful flow rates!!