Member Info for ALGU

Potentially yes, but this is what they say on their website. Basically we are still trading below our NAV, and nothing at all is being taken into account for the bio business. So even if an RNS was issued, hopefully it would reiterate the value disconnect (rather than say "we know of no reason for the rise...")

"Ovoca is a strongly capitalized business. As at 31 December 2017, the Company had net assets of €22.4 million, which included cash and cash equivalents of €5.5 million and available for sale financial assets of €15.9 million. Ovoca has no current outstanding debt. In recent years, Ovoca’s share price has continued to trade at what the Existing Directors believe to be a significant discount to its net asset value per Ordinary Share. At 31 December 2017, such discount was approximately 68 per cent."

Really valid point. Shameful how they've let this go to the wire/are causing people to lose jobs due to inactivity or due to a tick box exercise that has been confirmed in the past that they cannot seem to agree to again through inertia.

It's great to see this rise, but after all this is justified considering the true value of assets, POLY shares etc. Always nice when it pays to be patient.

From here it would be great to see this settle in a more respectable/fair value range going forwards, pending any news to propel this higher. Low 20s without news would be reasonable.

Very honorable of him to fall on his sword and take responsibility for the delay of APEC's $10m to PVR.

It would be good to see a bit more movement in SOLG, especially with the gold price hike. Has felt a bit muted here.

I'm hoping someone is on the phone daily to the DCCAE to ask what the hold up is. This is getting frustrating, although admittedly it's not so long since the EIA Screening Determination, so hopefully will come at any time now.

Perhaps the fund raise is also being touted to whip APEC into action. It's not in their interests if PVR is under the kosh. If they're as interested in PVR as they seemed to be (before this funding delay) - extended data room process, farm out negotiations, rig designation etc - then they're not going to want Barryroe to slip.

Thanks Noix. That's the bit I don't quite get...Equinor are receiving 50% for a few hundred thousand pounds. I appreciate the cost savings going forwards...
Anyway, I trust the BoD and it clearly wouldn't be a bad thing to have Equinor on board, I guess I'm just thinking out loud.

How exactly will the Equinor option work? If they take up their option they will get 50% equity in exchange for paying licence/application costs? That seems a remarkable good deal for them, am I missing something? The wording in the RNS is "Equinor will reimburse JOG for its 50% share of costs in relation to the licence applications". What does 'licence applications' actually cover? I know we would get their expertise and half of all costs paid for going forwards, but still it seems like they are getting a lot of barrels for very little contribution.

Thank you PC, Alaric and Afam for your thoughts. Barryroe is an interesting one that I always 'forget' about, I am invested in LOGP and PVR so they tend to take up my attention but SLE is of course aligned there. I think the litigation here last year put the breaks on the SP. This is of course a totally different company to when I invested years ago and it was all about Poland - I wonder whether those legacy issues are also a drag on the SP. I hope the weight of Tosca behind this though pays rewards in due course. £1 by end of 2019 would be a great result.

News I hope. This is like watching paint dry!

Can anyone highlight the value catalysts here? I've been invested so long i don't for the life of me know when it's going to get into the 50p-£1 range. It was a good start with the buyback but it's languishing once again since then...

Am I right in thinking that the announcements we're expecting are unlikely to come in the form or a 7am RNS - but rather an intra day one? Unless Tony O'R is checking PVR's bank balance before 7am then arrival of funds is likely to happen during the daytime, and would be followed by an RNS. Similarly the letter from the DCCAE is unlikely to arrive before 7am or after 4.30pm. Make no mistake I'm still checking at 7am, but I wondered if this is more likely!

Am I right in thinking that the announcements we're expecting are unlikely to come in the form or a 7am RNS - but rather an intra day one? Unless TOR is checking his bank balance before 7am then arrival of funds is likely to happen during the daytime, and would be followed by an RNS. Similarly the letter from the DCCAE is unlikely to arrive before 7am or after 4.30pm. Make no mistake I'm still checking at 7am, but I wondered if this is more likely!

The SP is moving up and down between 10 and 12 like a yo-yo. I'm no chart expert but is a flag pattern emerging?

The fact that the document provided is an actual HSBC doc (rather than one produced by APEC's funder) gives a lot of comfort.

The fact that the document provided is an actual HSBC doc (rather than one produced by APEC's funder) gives a lot of comfort.

L&G aren't dumping what nonsense. They're slicing their holding off the back of a big rise.

As an asset manager they will have all sorts of concentration/diversification limits in place on how much stock they can hold in an individual company. When they go above those limits they have to trim holdings to stay in line with these thresholds. This happens all the time in the asset management industry. It would be a different thing if they'd sold the entire holding. That would be dumping the stock.

Given how much this moves on no news whatsoever, it's interesting to think how this could move quite considerably when we do actually get some news!

thanks ajax - price has just spiked so let's see what happens from here

Does anyone remember what the daily price rise was when the successful sidetrack was announced? Something like 60p-300p? I was hoping this would have a similar effect on the SP.