Those boys in the Cayman Islands might be able to do a deal on a block holding from one of the Instis that wants out due to risk profile and divi cut ? But I concur Mr 11% doesn't have time to get to 29.9%
Jethro API 11 to 18 thickness 48 to 80meters probable 20% recovery Joe API 12 to 18 thickness 25 to 50 meters probable 20% recovery From ECO's new CPR today on their website. OPEC could cut up to 1million bpd tomorrow ! cnbc reports
In my view the big Insti holders have been blind sided. If they sell now it will be at a huge loss, but I also doubt there is much appetite by them to take on even more risk. The risk profile of their holdings has increased and they are down upwards of 60% . What would you do if you were managing a portfolio with that in it ? I'm sure they would love a bid even at a loss to them.
Anyone with an actual holding able to tell me the current bid and offer price ?
It did open over a penny higher today which is odd on such a bad Oil price/ global markets day. Could be market makers making a market or they know there is an RNS logged and don't want to give the shares away cheap.
I would be happy to see 59p on a day like today. As they say Rome wasn't built in a day. I notice Zerohedge have been banned from twitter for propagating Corona virus doom. Not sure if you all read the site but they switched into high gear after the first stories of the virus. Interesting to note they have been bearish Tesla since 270s. $5 billion dollars lost by shortbetters in January on Tesla !