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https://twitter.com/kushmanspicks/status/1206386491385171968
Seems like a fair summary...but as always DYOR.
Currently up at 54 c / 31p and 57 c / 33p on the other exchanges.
Agree with this, we have more cash in bank than the mcap, no debt so no good reason for this to languish down here. Will fix itself soon enough. GL
Definitely a buy. I also bought circa 55k shares this morning in 2 tranches (18,048 and 36,529).
No brainer at this level.
This one hasnt received the attention it deserves. £29million cash in the back, no debt. World class assets that can be developed. Watch this one rise again
https://ceo.ca/vle
another BB, discussions of open short positions etc.
or worse he had a margin call.
It has the resources to do so and if the company thinks the shares were undervalued when they were sat at a higher sp surely it would be in shareholders interests to take action to underpin the shareprice?
I saw the 87m share issue and T.VLE shows nearly 8m traded Friday, i couldnt see where else the shares would have come from. Unless another II has loaned out their shares for shorting, and if that was the case the shorts will have to close at some point and buying back in a market with limited shares available would give the share price an almighty boost.
As you spotted it was only when the other market opened that it dropped. My theroy being his TSX trading account maybe hit a stop loss / limit order point as soon markets opened.
Just a guess on my side, look forward to how trading continues Monday.
views on a share buy back say ~10% shares?
Possible source for the stock suddenly made available to buy today ?
SCOTT EMMETT LAMACRAFT Fri, 1st Nov 2019 14:57 - 4,272,700 shares, (unfortunately held in their pension).
possible limit order disposal?
just stood out as volume on ASX was >5m volume.
And while i was looking maybe its a good time for these to average down.
MAY 2019
"announces that its President and Chief Executive Officer, Sean Guest, has advised the Company that he purchased a total of 20,000 common shares of no par value ("Common Shares") in the capital of the Company at an average price of C$2.432 per share (approximately £1.878/share) on the Toronto Stock Exchange."
"announces that one of its Directors, Russell His****, has advised the Company that he purchased a total of 10,000 common shares of no par value ("Common Shares") in the capital of the Company at an average price of C$2.50 per share (approximately £1.45/share) on the Toronto Stock Exchange."
Very weird, cash of circa £29 mill, mkt cap circa £28 mill. No debt. Ok, production in decline, but does have development assets....
Effectively it’s entire operational business being valued at £0?
I’m hoping though it will fall further next week.
These lvls do make for possible good entry points.
If it drops to 20-25p area, I’m Defo buying big time..
L.
Ah its CAD $ ty.
Still makes it Priced at cash and no debt?
"At the same time, it is important to highlight to everyone the strength of our Company. Valeura has over $50 million of cash and holds no debt."
What a strange Market reaction to that RNS. Anyone have any ideas?
"We are pleased with initial rates from each of the three stimulated intervals, and with the substantial data set we acquired through the comingled production flow test. The results from Devepinar are on trend with our predictions derived from the other tests conducted in the basin with regard to product characteristics - at this depth we see dry gas, with no condensate. While every test to date has resulted in gas flowing to surface, we continue to see the best flow rates at the deepest intervals in the play. Further modelling work is needed to interpret the implications of the comingled test results, which will lead to establishing the next steps for our continuing appraisal of the deep gas play."
28m at beginning of day.
“ Net working capital increased to $52.8 million at end Q3 2019 as a result of a net increase in the Company's cash position to $51 million;”
Um ok £28m Mcap and £40m cash, logic.
Look at the 3 month chart, the drops each time are way too aggressive and over done and each time it bounces harder than before. I wouldn’t be suprised if come next Friday we close closer to 70p. One thing for sure is 30p is f’ing ridiculous, crime against lth.
Tight spread now. Its starting to move up into the close
Only a few weeks ago this bounced from sub 50p to above 70p in a couple days. Expecting a similar type of bounce this time round.
Depth 5
15:15 2,500 32
15:44 1,500 32
14:45 2,500 30
14:45 1,500 30
15:44 1,500 23
5 Depth
33 1,500 15:44
39 2,500 15:15
40 2,500 14:45
42 1,500 15:44
45 1,500 14:45
1 mm left on 33p, next one up at 39p.
Mm’s are sleeping on this. They will awake from their slumber soon enough.
Ok so I've also read the RNS and bought in. Nothing in the RNS really warrants a drop this big. Yes not the best results, but the drop from 200p to 60p had already covered that. 35p is just a bargain price now. Im in
Having looked through further rns i just dont understand the drop.
This had a broker forecast of over 550p given in August. Director buys close to 200p 5-6 months ago and nothing that would suggest the type of drop that warrants current mcap of only 18m. Ridiculous
Feel sorry for lth here and hope you guys recover your losses.
‘At the same time, it is important to highlight to everyone the strength of our Company. Valeura has over $50 million of cash and holds no debt. We continue to generate positive cash flow from ongoing production, and in addition carry 2P reserves of 7.4 million boe; valued at $88 million as of our last external audit. Financial returns associated with our production and reserves continue to improve with strong netbacks of over $33/boe due to Turkey's attractive fiscal terms and gas price realisations of nearly $10/Mcf. ‘
Against a current market cap of around 18-20m?
Chucked a few quid into this, nice one to pop into the bottom draw.
well im in before the herd arrive phew.
gone totally unnoticed by the market. Excellent flow rates on dry gas at 1.6mmcfd - 1.3 mmcfd. Three wells.