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No advise just selling down Portfolio .
First buy 2p 17/7/18.
Went to 3.88p on 8/2/19.
Last buy 9/6/21 @ 1.4p
Sold today 9.45am for 3.7p a 3 year high , had a target of 3.5p to slice a few , today's rise jumped over that . TYJ
Deltic Energy Plc, formerly Cluff Natural Resources Plc.
EAD made a comments on my last buy .
part of comment below .
You seem to very much like these high risk oily explorers. You must be aware that the majority of them fail, even after coming back to shareholders for more money usually. That isn't to say that you can't make money trading the stock, of course.
is it a quantity approach, perhaps, based on only needing to get one right to pay off many failed similar investments.
They look like dozens of other AIM explorers to me, starting off with a lot of expectation and a higher share price but fading away over a number of years while failing to ever produce adequately, or in many cases even get projects off the ground. Management tends to be so important in these tiny companies wielding shareholders capital to try and make something happen with licenses they've picked up.
Not here Shell hold 70% of drill for starters
Bubble, Shell are taking 70% of the risk. Delt maintain 50% of asset. 318bcf
Only 53m cap for potential billions on offer with Shell operator and under pressure to deliver U.K. gas asap.
Sold half remaining @ 4.11p Midday .
I did notice the placing at 3.5p on the 12th but missed news of 1 in 24 open offer at 3.5p .
Excess available with some brokers
Saw the non tradeable in ( D ) Saturday 17th looks like meeting on 30th before confirmation .
Dropped back to 3.6p ( spread 2.74% ) 13th & 14th .
Ask now 3.75p
ripley the RNS of 12th does state under Open offer of an additional £2m raise, 1 new share for every 24 held, available to Qualifying Shareholders.
As stated before, 1 existing investor ( Michael Spencer) is taking up 1 new share for every 1.6 shares currently held.
In view of the interest being shown by existing PI's, they will have views on the equality of this offer.
Incidentally MS has been in the news this week, he strongly supports the lifting of Banker's Bonus Caps.
Form your own opinions??
Hi fairdealer20
Sorry if you misunderstood my message , I simply posted that I saw the placing but only noticed the OO today when doing a tally up with main broker , ( I saw non tradeable ones on acc ) .
They have yet to write to me with offer .
I much prefer when OO comes with a placing , shame the ratios are normally small , but maybe they want to be able to say 100% take up ?
This Michael Spencer the ICAP guy or someone else ?
Are you telling me he was offered a better ratio of 1 for 1.6 ?
Maybe I should not be trying to make money in shares , especially ones like this , as the playing field is not even .
I just compared my year paper losses to AIM 50 down -31% 100 - 34% All -32% .
I am -20% .
I read over the years most fund managers do not beat the indexes so at least I am saving on that cost lol .
I have more different shares then most of them .
Ripley, most Brokers sent out documentation yesterday. II did, got mine yesterday morning.
Michael Spencer(Lord Spencer) has an investment vehicle here, IPGL.
He has been invested here for quite sometime. In February 2019 Algy Cluff did a side deal with MS, selling a large chunk of options Algy held. Shortly after Algy Cluff stepped down from CLNR, stating he was retiring, seems to develope vineyards he was establishing in Kent. However within a month of stepping down Algy set up a new Company, Cluff Energy ( Africa) with a partner, Michael Spencer.
In June 2019 the company did a fund raise (Placing) MS was a major funder. Ordinary PI's were denied any participation i n the fund raise. This created a lot of anger, suspect the way this placing has been done does not want the BOD and chiefly CEO to be in the firing line.
The Option Offer now is, imo, just a token gesture to placify ordinary PI's.
Just think about this fund raise. any argument thats funds are required quickly is nonsense, there is adequate cash at bank. That dispells any need for an excelerated raise as was claimed in June 2019.
It is accepted a fund raise now is primarily for future developments as yet unknown, therefore based on equality to all investors would the following have been fair to everyone.
Company wants to raise £17m and is issuing more or less 485million new shares at 3.5p
A Rights Issue could have been arranged through an Underwriter on the basis for every 3 shares now held 1 new share is offered. to ALL existing shareholders.
IMO that is fair to everyone rather than allowing a select band of Investors to get a bigger and bigger slice of the cake.
Those LTH's are seeing the cream we have patiently waiting for being skimmed off . Is that right?
100% agree fairdealer , clnr was a lifestyle company for algy with several share issues ,as soon as it look ripe to shaft the lths and with deltic it looks as ms has got his claws in and is doing the same ,as i have stated before i have been waiting since 2014 to get back to breaking point 4.5p , ok i should have bought more sub 1p , but once bitten etc i hope not too many have taken up the insulting offer of 1 for 24 if ms is getting better deal as you say ,skimming the cream off , i would add taking the p155 , but interesting to see how many fall for it with greed tinted glasses quoting if ms is investing so will i , but he will cash in and be long gone before you feel the boat rock , gla and keep safe , and all males get your psa s checked i had no symptoms at all went for a well man check cos i am now early 60s and i have stage 3 ,now waiting / starting radiotherapy on the 27th god save the king, on a lighter note when the queen was alive a few months ago the details of what would happen if and when and when stated that a c17 would be used like the one used to bring back sevicemen from war rather than a fancy jet the queen apparently said what was/is good enough for my boys will be good enough for me, god bless her
Thank you for that insight you seem very knowledgeable on this share .
My style is to own a lot of different shares , I spend a lot of my time with them but can only know a little about each one .
The ticker CLNR is familiar so must of owned it .
I would not follow cookoo advise and pass up the OO unless I can buy cheaper then 3.5p , I think the share is worth 3.5p as Spencer thinks it is . ( My analysis that basic I am afraid )
ripley ,that doesnt make sense ,"i would not follow cookoo advise ......unless i can but cheaper then? than 3.5p ". isnt that what i was saying?the deal @ 3.5p and 1 for 24 stinks , if you want cheaper then you must agree basically ,
Sorry cookoo12620.
I thought you suggested not taking up the OO @ 3.5p ?
I will only not take them up, if i can buy cheaper at the time .
E-mail from broker internal deadline is is 26th @ 11am . Monday next , I will wait and see , I did that with RKH got many more of them under the OO price but then sold much to early when they went a little above .
Doubled since .
Its a pure gamble .
Just bought in today 300,000 at 3.64p
Good times ahead I think
Shell backed too
Just noticed I have missed my brokers deadline .
Accepted at 2.45pm in the past they reject if over the deadline , not looking like a great loss , but you still can not buy in market for 3.5p , and indexes well down this morning .
Just got a quote 100,000 @3.5p 1st attempt, 3.51 200,000
Doubled up holding, limit on since offer lifted at 10.30am for the 3.5p .
Broker rejected take up as couple of hours late yesterday , but it was only a tiny offer , irrelevant now .
Looks like a couple of trades on history cheaper , might be live buys showing at 3.47p around same time .
Bought again , same number as last Tuesday but 3.1p today lifted just after midday .
Very low on funds last week in hindsight no need to rush at placing price , markets recovering this week .
Funds in today from a takeover
3 Rns out at 7am up over 9% , the ask has gone just above OO price @ 3.55p .
Lucky I took a chance yesteryear .
Sold the 4th October buy for 3.1p for 3.7p . ( Approx 19% there )
That tranche only for a trade , lucky took a bigger gamble as very low on funds early October which got worse by mid October .
Fortune favors the brave they say .
Got Fridays slice back today for 3.3p which is above my buy on 4th October at 3.1p
But approx 10% below the slice on Friday , just three days on .
And there is what others are posting is good news today ( share dropped 6% )
Wed, 23rd Nov 2022
IN BRIEF: Deltic Energy says Pensacola drilling operations have begun
Deltic Energy PLC - London-based natural resources investing company - Says that the Maersk Resilient rig has been safely installed on the Pensacola location, a Zechstein Reef prospect in the southern North Sea. The news was confirmed by Shell UK Ltd, the operator of Licence P2252, and drilling operations have now commenced.
Deltic has a 30% working interest in the licence. The drilling operations are expected to last between 60 and 90 days and the plan is to plug and abandon the well once these are complete.
Chief Executive Graham Swindells says: "We are excited to have commenced the well operations of our first exploration well on the Pensacola gas prospect. Pensacola is a high impact, potentially play opening prospect and represents what we hope will be the first of many wells as the company continues to implement its strategy to identify opportunities and discover gas to support the UK's energy needs."
Spare cash on ( D ) after not reducing booked funds on margin last week .
Got another traunch here, a BUY at *2.95p went strait through on limit 9am first of 3 buys before 11.30am ( D )
I've just had another look at the chart and my view is not as gloomy as last week's. Buying at this price is, in my view, a fairly reasonable gamble and likely to pay off handsomely.
I got back in with a limit order sub 3p, having sold at 3.6 a week or so ago, for no other reason than I needed the money temporarily. I didn't expect it t drop this low but as you say Noel, it is an attractive gamble from here even if it might drift further before news.