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Hydras you may be onto something as it seems that any positive news is sold into hard!! Perhaps the powers that be can contact me and have my millions of shares for a fat fee.
It could be HEYCO!! Think about it? They are in full control of Wressle, the goose that lays the golden eggs for EOG and UJO. Both companies are having the same problem with their dismal sp's performance, even on the back of good news ! Why? Manipulation? It will not be reported if they have borrowed millions of shares from other large shareholders in return for fat fees. Eventually, by selling the borrowed shares and keeping the sp depressed, normal shareholders will become fed up and sell at any price and go away, thus continuing the depression and gives them the opportunity to jump in and buy company at knock down price in a year or two of poor performance? Easy meat for them?
I see what you mean - but sells are way over those totals - probably double at least, so we would have TR1. Not many PIs have over 20m but I bet some do and it only takes one. Bigger investors sell on strategies - so it will either be earmarked for another investment or other costs. You’re wasting time trying to persuade them once they’ve decided - much better looking to bring in new investment through developing opportunities, which is what the BoD seem to be doing - and there are more and bigger buys appearing alongside the sells.
See the misunderstanding. the 8mm 9mm shares relates to dropping below 5%, not total shareholding. Not many people have 20mm shares and they just dont seem that committed to EOG in my opinion. If the BODs cant stop the selling than what good are they?
Unlikely to be IIs imv. BGF have only ever sold when the SP was above their entry price of 3p, they sold in one block and reported it within time scale. Little in it for big companies not to report- if they are going out it’s usually a case of “what do they care if people know”, these are minute margins for them. They both own way more shares than the numbers you give 28.7m is approx the 3% mark. Someone or group seem to have made a New Year review decision to sell at virtually any price - having committed to this they are unlikely to be swayed now by the Board. Hoping that it was a large holder under the threshold who commissioned broker to dispose of holding by end Jan. as it looks like high 20 millions sold off over period. If it continues and then it looks more like a coordinated effort, and you have to start wondering what parties would have anything to gain from a strategy of increasing despondency amongst shareholders.
TR1 rules-(1) reaches, exceeds or falls below 3%, 4%, 5%, 6%, 7%, 8%, 9%, 10% and each 1% threshold thereafter up to 100%
So according to the website, Polus have 5.79% and BGF have 5.91%. That is approximately 8mm or 9mm shares, respectively. That is a lot of shares to dump on the market and I would expect it is one or both of them as they have lost a lot of money (2/3rds). If it is them, the BODs need to convince them the share price is going up because if either want out, our share price is not going up.
Posted on the Ujo board this morning by JOkingU
Every single day for a few years, every single buy (including the 6m buy backs) have been ‘sold’ within the hour. It is very very obvious!! that the shares are being borrowed and sold. until those that are doing this decide once again to close that position (and make a fortune.. so sure will happen), we just have to settle for the revenues to increase and dividends along the way. when buys are sold every single time, is clear that for a long time there are those that have the ability to borrow the shares (no doubt posting on here), all IMHO. If DB cancelled 1m I’d bet there would be a scramble to close that short. The whole thing stinks, and it’s not the fault of DB. Certainly need to see a dividend. It’s all going quite well as far as i can see, apart from the sp! So obvious what’s going on!
So do we have.
1.large seller(s)but no TR1
2.stock being loaned to short
3.stock being loaned to suppress price for cheap take out
4…..any other options welcome.
I agree with the thread heading,...Inishkea, Serenity, Wressle, etc,...EOG, with a current Market Cap of only £10.07m,...I have been increasing our EOG shareholdings, considerably, recently,...took another 250,000 EOG shares yesterday.
BW
Any of our large holders would have had to TR1 along time ago (and when one of the IIs did sell before they followed the reporting rules). If a single seller just below 3% then they must be near limit as this pattern has gone on for 4 weeks and there have been approaching 30m in these apparently grouped sells. Might be just random chance but pattern of rounded sells regularly taking SP down and then selling more heavily looks odd. But if more than one seller involved it begs the question of who could be benefiting from this? Got no good answer to that post EG and Irish extension.
Agree Brezhnef, so much potential for a multibagger with news that could land anytime. Does beg the question as to why people would be selling at these stupid prices? Maybe it’s an individual that’s offloaded a lot of shares, if so would expect to see a TR-1. At least we know it’s not WA.
@les.. 100% Iniskea will finally be farmed out. That's what the Irish government has signalled here with the 2 year extension. So we probably looking at a 2025 drill. With EG also looking highly likely for a farmout, wressle and possibly a long shot on serenity development this really could be turning into something special.
Buys came in late today
It's frustrating but I think Inishkea will finally get farmed out later this year.
All eyes on Serenity Tain now imv
I think you have answered you own "surprise".
Europa has always been loaded with potential but alas with no tangible material outcomes; projects get stalled in a forever holding pattern; hence no SP rise!
If something actually happens, a farm out of Inishkea, we'll see the dam burst!
IMHO
Surprised this hasn’t gone up further as more people have been reached by the lasted news which potentially could transform this company. Has to be worth a second look for punters.
WH follow up video ?
Especially as some kind of state owned LNG off shore storage was the only half baked solution the Irish energy review was allowed to put forward to address the gas shortfall over next 25 years.
Joe Biden pausing all new LNG export licences from the U.S. .. will also help focus the mind. Energy security is key - 'home grown' sources of energy, invaluable.
Fair enough. Given the history, you’re probably right. But the two year extension plus the Red Sea cracking off might be indicators of a change in thinking. Time will tell.
Best of luck is all I can say.
You need to view and read the various proclamations from the people in power there.
Energy Security will be the stated reason when a drill is permitted
Well! It was going up. Just dropped and will be interesting to follow.
Granting the extension is an easy one for the Irish govt as it means nothing in terms of what will happen when they want to drill. See Barryroe for a parallel situation. Licence stolen from under them for no real reason apart from totally insane govt energy policy.
I believe the only way EOG will get to drill is after the next election when the present incumbents get the boot - hopefully.
Lansdowne apparently still thinking of litigation against Ireland so Ryan etc must be thinking of that as well. Giving consent would open a few monetary flood gates although it would never get paid in our lifetimes.
Yes good to see for a change. You can see why bod were so keen to get those share options in place - must have had an idea re ireland - hopefully those very same share options will mean no more dilution
Potential for lots of good news here
The share price rise is very much welcomed. They need to jeep positive news coming to get over the hump where people sell into a rise. Fingers crossed for all share holders