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Cmon own up, who is buying and selling 2 bloody shares?
After much deliberation I decided to double my holding
Although we jest, they are using these couple of shares and a few others to totally control the SP.
From the start of September till now they have managed the book, with a brief uplift to 26p when results were due.
Annoying as i think we would be 28/30 now given some of the buying we have had.
Noticed it happening on another share I'm in, loads of 1, 2, and 3 automated trades throughout the day
Also the bid is moved around so much it stinks. You see the share price down 5% sometimes yet the bid has moved up 0.5p in the spread. I just don’t see it on other shares or maybe I’m not watching those so much?
Also annoys me when we are quoted 5% up at about 16:55, only to look again at 17:00 and we're only 1% up.
Surely shome mistake ed :-(
We know that we are waiting for news which will unlock the completion of the transaction as the Accugas term sheets have received credit committee approval in December of last year. With the restructured terms agreed, the long form documentation is procedural and legal, it comes as no surprise why AK is so confident about the deal completing.
We also know that the ministerial consent is dependent on the taxes being paid associated with the transaction within 90 days of consent which is the 18th of November. Which suggests the transaction will be completed and the funds from AIIM will be released to pay this commitment by this date.
We can see from the technicals that we are very near to a golden cross with the 50 and 200 daily moving average getting ever closer, and that the stochastic and MACD look like they are about to turn positive.
The two consecutive long legged Doji’s over the last two trading days is indicating a reversal of fortunes and with no news tomorrow, the third Doji could be an extremely bullish indicator.
Bottom line, this feels like a coiled spring that on completion of long form documentation will see this really start to gain traction to the upside, and for every day that passes, an update becomes more imminent.
Market makers are currently doing a good job of taming the share price to leave plenty of room to the upside in the event of news which will provide significant volume and create the perfect market for the market makers to profit from. It’s all part of the game, if the share price gets to its fair value destination to quickly the market makers will stem volume and therefore their margin.
Very, very exciting times. Aimo.
How much taxes are due by November 18th and could Savp use their credit facility temporarily to fund this liability if for some reason the Transaction Completion drags on past that date?
I don’t believe the amount of tax has been disclosed, I would of thought that this information will be in the supplemental admission document, among other details.
I think the general consensus is the transaction is expected to be completed by the time the taxes are due.
Thanks Diversified...I understand all that. Cheers?
Sankeys and diversified NO doubt the sp ius currently being tightly controlled by MM's. For example you see a trade going through in the last 30 seconds prior to close to set an end point for the day sometimes at odd prices. The small value trades are distorting the end of day position to make it look like the sp is either rising or falling but even a cursory look at recent weeks trading would show strong buying from PI's - I'd extimate over 80% of discretionary PI trades are buys. The autotrade algorithms seem to be fighting each other for control on occasion. It looks like Winterflood has a degree of control over the sp but this is all short-term stuff. Once the deal closes I'd see significant upside. I also wonder if any of our II's are sitting on the sidelines waiting to top up. Even if the sp rose to 50p, the upside prospects particularly in Niger must be attractive to II's.
Agreed Zeus, the question is where are they getting the supply from as the sells are undisclosed at best. Real imbalance in favor of the buyers with a particular frequency of automated trades. The games of manipulation are borderline criminally frustrating at times!
Having tracked RSP carefully on and off for a week or 2 I am not convinced there are any sells to publish (I could be wrong of course and someone could be selling down a larger volume). This just looks to me like Market Makers lining their own pockets by bcarefully nudging the bid and offer down through the day. Of course the start of day is always well below the close and with a wide spread - all to discourage trading at the moment I suspect.
I have considered making a referral to the FCA although that would have no effect but at least would make me feel better! SAVP needs to get off AIM soon if it wants to be seen as a big O&G player.
Sorry but it makes me laugh when people say we need to get off AIM to be a big company.
How bout these? Big enough?
Nothing wrong with AIM if your fundamentals are good enough. Ps didn’t do SSX much good did it?
Burford Capital Ltd (BUR) – £3.76bn
Fevertree Drinks PLC (FEVR) – £3.4bn
Hutchinson China Meditech Ltd (HCM) – £3.13bn
ASOS PLC (ASC) – £2.64bn
Abcam PLC (ABC) £2.39bn
boohoo.com PLC (BOO) – £2.29bn
RWS Holdings PLC (RWS) – £1.43bn
Secure Income REIT PLC (SIR) – £1.32bn
Clinigen Group PLC (CLIN) – £1.29bn
Globalworth Real Estate Investments Ltd (GWI) – £1.25bn
Blue Prism Group PLC (PRSM) – £1.22bn
Dart Group PLC (DTG) – £1.2bn
Or SXX either!...;)
Thx T50. My point stands. We can thrive on AIM as long as we are a good solid company and not some cesspit of a share run by crooks.
Fingers crossed everything goes to plan even if it doesn’t go in a straight line and eventually we get to my sell out point.
Older and wiser - you asked how much are the taxes due on the transaction on Thursday.
Tax and deal fees are stated at $10m in the Hannam and Parters report.
Thank you.
A not insignificant figure in the circumstances, if this drags on.
In my mind I would like to see confirmation that have financing in place through to completion. Not long to go now but would be nice to put any funding questions to bed while we wait
That’s my point - completion is potentially within weeks but where you are relying on others signatures and Uk courts you can never be 100% certain. So I’d like to see them confirm the bridge financing they have suggested so we can then focus solely on the Accugas funding sign-off, the UK court process, deal completion and of course Niger farmout/drilling...
On the latter point see the below article... sounds like it’s heating up ...
https://www.upstreamonline.com/weekly/savannah-seeks-niger-partner/2-1-685340
Subscripton based - Quotes a "A well placed industry source."
Partners sought are "large independents and national oil companies" with tech/finance clout.
"Asian Conglomerates" said to be interested, "May include Indias ONGC Videsh which was close to finalising a farm in deal a few years ago" (with Savp).
"You can assume that is a name Savannah will be revisiting this time around" a source.
Could farm out up to half its stake (a source).
Farm out process by consultancy Merlin Energy Resources likely to last between 3-6 months. (We do know it started a while back)
'Situation changed with the pipeline deal - now much much more attractive to potential faminees.'
"Interest has increased since the pipeline deal (said a source). It's looking like a very healthy process".
Well lets hope ONGC Videsh are not our partner. They are so slow to drill wells. They take about 1 year to drill 1 well. Look at how hopeless they have been in Columbia.
SAVP will choose a partner with deep pockets and a commitment to drill the 10-15 wells mentions over the year...
What's Colombia got to do with it? Can you say what the actual reason is why they are slow ?
(One of 40+ overseas projects including Africa)
They aren't one of the worlds biggest oil companies for nothing. FWIW i thought they had 2 wells drilled there and were stopped to do seismic.
If a Niger farmout is conducted the Upstream article states a planned 10-15 well campaign is to kick off.
What would be the point of a doing a farmout if that was going to be the case and sit on your hands. There's a high number of actual drill ready prospects. Part of the farmout also was in the past to include provision for additional ongoing seismic.
'ONGC, India's top oil and gas producer, is implementing multi-billion dollar projects within the country to bring to production new discoveries or prolong output from existing fields. Its overseas arm is on the prowl for acquisitions besides having funding requirements for the 41 projects it has in 20 countries.
https://www.business-standard.com/article/pti-stories/ongc-to-borrow-2bn-through-unique-overseas-debt-programme-119082900710_1.html
It's only one company mentioned by name. As reported in the past, Tullow execs went to seek licences there but were unsuccessful.
Zengas,
Basically ONGC are such a large company that they are over beaurocratic. Every purchase they make has to go to tender including spanners. Amerisur have been partnered with them in Colombia for many years. In 2019 they were meant to drill 6 wells. Only 1 well has been drilled. We have been waiting since June for the second well to spud. Still waiting! I couldn't think of a worse partner. I know they have been given the go ahead to invest overseas.