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Good afternoon Nige,
Yeah its certainly positive that EXT are buying out Mr Jennings at a large premium, some on here said that would never happen. Also like you say its very positive that the management are looking to buy at a premium too as they know what's going on with the Angolan assets. Plenty of news still to come from Tobias, let alone the rest of the Angolan and mineral assets.
Regards,
Ed.
Why get it removed. Hes got 8 likes. Shame none of yours do 🤣
Yeah, Bladey, blah, blah,blah
I would have reported your rude and derogatory post and had it removed but as that would have probably removed the whole thread which would have then removed all of my posts there was little point.
Morning Ed,
Hope all is well.
Lots of news flow to come over the coming, so hopefully the sp can get back on track.
Directors and new investors are showing a high level of confidence here to invest at a premium.
Fingers crossed, much better days lie ahead for us?
Thanks Nige
I'm with you there Bladey ...
LOL Bladey 😆
Wow, Art, you don't half go on..and on lol. Now I think I realise where this missing unicorn is! Must be stuck up your back$ide! Take a break mate, go see the doctor, for a physical and mental check-up!
Richard Jennings - Investor, commented: "I am very pleased that under the stewardship of Antoine Karam the trajectory and prospects of Corcel have been completely transformed with the new focus on the Company's Angolan oil fields. I and Catalyse Capital have provided support to Corcel for the last few years and we wish all shareholders every success in the Company's activities in Angola"
The wording of the last sentence makes it 'sound' as if Jennings and co have now sold out completely, though, in fairness, this is only an assumption.
If TO-13 fails to flow the share price won't be at the current level for long. Oh, but don't worry, there is always TO-14 - surely that will flow the second time around, or else why would they even bother to go back and try again (if they do)?
R Jennings has/have done alright though.
Cost of 99 million shares at 0.021p = £207,900 with no fees.
Sold 99 million shares at 0.075p = £742,500 with no fees
Profit to Jennings = £534,600
Nice work if you can get it.
Maybe it is because I prefer to buy on positive news - ie. flowing oil with flow rates - rather than just on how many shares the management owns. It seems to be a safer strategy these days.
When we see our major shareholders and directors put their hands in their pockets and pump alot of money into this small cap ...at premiums to the current price ...well it can only be classed as a poisitive step .... whatever the doomsday posters think ...
This sort of arrangement isn't unusual here. Since Mr Karam has been involved with CRCL nearly every placing/funding has been at a large premium to the current share price. It makes a real change to have management and cornerstone investors aligned with shareholders. Even to get a management buy recently of £200k is large for a tiny cap, perhaps things aren't nearly as bad on TO-13 and TO-14 as some on here would lead us to believe.
Regards,
Ed.
Now I know the meaning of the phrase 'The blind leading the blind'. Or rather, in this case, the 'dodgy' leading the blind. And I hope that Karam doesn't know anything that the market doesn't know, as that would be tantamount to insider trading. It reeks of a rather silly and desperate action to try and bump up the share price at any cost.
RL,
Yes true its very positive for the the company and shareholders too. Not only are EXT getting cheap shares, but the company benefits from the removal of the potential 99m share overhang ahead of the test results of TO-13. Shareholders clearly also benefit from the removal of the overhang as they progress the Angolan assets and we have a very keen cornerstone investor fully behind the company at higher prices.
Regards,
Ed.
Answer this question then ART.
Would you invest £700k at a 100% premium knowing that the sp was going to halve within a month? No you wouldn't so stop playing the idiot.
It is certainly 'good news' for anyone who wants to derisk at a slightly higher share price than yesterday or the day before. After all, so far TO-14 is just a failed flow test.
This is just 'dodgy' management acting recklessly in the face of what can only be taken as bad news - ie. the lack of any flowing oil from TO-14
So far there is nothing to show for 7 or 8 months of drilling and testing. Whether this changes remains to be seen.
Who put 50p in the idiot....
"Of course, the usual crew will ramp this to death and the usual succours will buy more shares at a premium but then who cares? Not me anymore."
You're a bitter clown.
I agree with you Ed ...it's all good for the company and shareholders...
I just saw your post of 16th ...where you said the PUT option was another sham ..so to speak ... Iwill expect that when the oil starts flowing ..that you will indicate its only dirty water ... your some clown ...whoever you are ....GL... to all positive posters ..
RL,
Yes, it shows that our largest shareholder EXT wants to take themselves right below the automatic bid limit of 30% holding. They're also willing to do so at a premium to the current share price of over 100%. So clearly they see large upside on these Angolan assets. Likewise Geraldine sees upside on her 0.5p placing purchase of £200k. Not overly surprising though as the Angolan assets aren't priced in here at the moment given the tiny £6m cap. Hopefully get the results from TO-13 in the next few weeks.
Regards,
Ed.
The transaction shouldn't affect the share price at all. The only difference is that Jennings are not now going to sell 99 million shares on the open market.
Of course, the usual crew will ramp this to death and the usual succours will buy more shares at a premium but then who cares? Not me anymore.
Dodgy on.
I'm delighted we have you on board ..... so a major shareholder, who you have just indicated 'SILLY' is willing to buy nearly 100m shares at a premium to yesterday's closing price of 230% is doing it just to keep the price from falling .....well let's wait and see...
Not really. It is just the Executive Chairman buying more shares at a premium to halt any further decline in the share price due to any overhang. Can't blame R Jennings though as the shares only cost him 0.021p and now he has offloaded the lot at 0.075p when all he would have got on the open market was about 0.025p or less.
I would rather the share price go up as a response to flowing oil rather than silly director's buys.
But then you all know my opinion here anyway. And dream on, but it won't do you any good.