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I guess it's Bond holders still selling their remaining - clearly very much unwanted - shares down still that's to blame here.. and always a chance there are some forced/panic PI sellers on top too...
A real shame, but hopefully patience pays off here in the end.
Even this getting back to around 25p at some point in 2020 would be a good outcome this year now imho
(and those 100p + shouts seem so so so so so far away at this time.. and reminds me, for the umpteenth time, that it's the uber bulls that are by far the most dangerous to your wealth on AIM, and especially in O&G sector on AIM)
You two just beat me to it.
yes and even when the mkt is strong this mother of all dogs heads south!
Savp - no move.
Gap now closed and no reversal of downtrend!
BB
How much longer will it take?
Interesting read:
https://seekingalpha.com/article/4328510-what-china-knows-coronavirus-oil-traders-dont-know
Another 30% added today after this week's decimation across the sector. This will either be a master stroke or a big mistake. Let's see.
A second day with a shooting star technical formation. And 12p was the support. Looking a bit better, IMHO. Certainly there were worse O&G shares being pummeled these last few days, than Savp.
https://www.tradingview.com/chart/z8NKguR8/
https://www.worldometers.info/coronavirus/
particularly interesting: click on 'Show Graph' in 'Active Cases' box, then move mouse pointer over the graph line to show active cases on a specific date - since the 19th Feb have been steadily falling - looks like China's strategy is slowly working.
Lower down the page shows country by country breakdown of cases.
False alarm. Name change. Back to the bunker.
Saying that it mentions a corporate reorganisation so is no longer subject to the notification obligations? What’s going on there then?
Looks like it was TT International selling not Miton.
Technically, it was a "shooting star" price action on Doji charts. Yes, I am resorting to mumbo jumbo for reasons to be bullish now. But also continuing to buy with one hand, this morning, whilst the other is really, really shaking now.
https://www.tradingview.com/chart/z8NKguR8/
About a cheeky offer or even MBO at this stupid price than I am about any virus!
lots of buying all of a sudden. From red to blue
So if it's just light selling volumes pushing this down, what about the remaining large debt holders' positions still to be dumped?
Paul Curtis I always appreciate your views please keep positing
woah, pls no update just yet, am filling my boots.. I averaged UP back in Nov at 22-23p, so for me personally it's a no-brainer at these levels....
117m shares to bond holders, 80m taken by iis. How many are left no one knows, but i agree with PC, get it cleared.
What’s the point of an update? There is clearly a large loose seller, my guess left over 7E bond holder.
Painful though it is, best get share price to a level that clears out seller. ie sucks in large buyer. I thought this was done at c. 20p a couple of months ago. A broker put together a consortium to buy out overhang and we had c. 60m traded
Anybody wishing to raise their concern over the lack of a market update would do well to just drop a little email to Investor relations. ir@savannah-petroleum.com
Now they can all blame it on COV-19.
Completely agree, OAW and legs
The lack of communication is extremely poor. An operational update is well overdue with some detail on Seven progress, current bopd and also Niger situation, obstacles to progress, etc.
This is where the NEDs are supposed to do their jobs.
Sigh.
Reminds me of Amerisur so much...
Not sure what Nigeria update you are expecting. We had a cpr and trading update 10 weeks ago and a new customer added 3 weeks ago. The silence over Niger is surely down to partnering talks. Don’t get me wrong I’m sure these discussions cannot be easy off the back of oil price weakness and the virus uncertainty but until theirs clarity there it’s a wait and see job. If this was getting sold in high volumes I’d be worried but until I hear bad news I’ll continue to add
As per usual AiM share taking a hammering on zip volume. MM’s making money, everyone else losers. 7% down. Some FTSE and Investment Trust bargains elsewhere so its a testing time as to where to allocate spare cash. Defo not here though for me....yet.