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Is COVID delaying things here at the moment or is it just a slow process? I love the story here - same geology as 2 major discoveries in Russia, with better access and simpler politics. Likely to be a bottom drawer hobby and then check in every once in a while...
Gutted by the offer price, as sitting on a 22p average. But I can see the logic in buying more at this level. Price is unlikely to drop by much relative to the offer price all the while we're waiting for a vote on it going through. Buy some now, hold for a month or so in the hopes of an improved offer, and if nothing arises then sell at (or before) the vote for roughly what you paid for it... General Election result might even have a positive impact on a buyer. I have no idea how, but it seems like the sort of thing that someone in the know might say...
I’d be over the moon to see offers of 35p+ coming in, but surely if this is seriously where the price is going then these buyers should start buying stock on the open market and fast. Take Faroe recently - DNO offer was around 160, people were touting 250/300p on the forums, but then DNO hoovered up all the stock on the open market and it was game over. What’s to stop them just buying it all up at under 20p now?
Surely there are regulations in place to stop companies just rinsing people in placings and then folding, only to pop up in another form (MFDEVCO) to sign all the GTW and marginal field deals. If that did happen would we not have some degree of comeback?
Would he be allowed to email people saying “I think it’s good news” and then not release an RNS before the market opens? Surely it’s manipulation if they don’t... although I don’t pretend to be an expert.
Does 20m shares not now make you the largest private shareholder? Will that now be announced as such?
The most interesting thing about all this is the amount of money raised. They’ve placed 3 times since Feb 2017 to the tune of 2m, 1m and 1.5m, followed by this one of 250k... it’s either the final mini raise to pay for the NUOG funeral, or they needed a little bump to get over the line. Please let it be the second one.
The longer it took to seal a deal the more likely a placing was to occur. Doesn’t make it hurt any less of course... I’m just going to keep everything crossed and hope that I’ll be in profit again one day...
Can only assume they struggled to get any interest in the placing at higher than 0.3p... is that how placings work? Can they offer at 0.4p and then get told to get lost? The amount of money they have raised does suggest they don’t need that much... perhaps just enough to get ‘something’ over the line
Did anyone notice that Align Research (who have been very bullish about both GENL and GKP this past year) last week reversed their call saying that both have run their course? Any thoughts? My feeling is that those original conviction calls were not based on POO rising to this value so there must still be some upside to both - even without the gas potential!
Great advice! Been mulling the same thing over so sold 40% of my holding here today to ensure I finally see some profits (not much mind you, but I spent about 4 years sat on an upsetting negative number). Figured I’d prefer to sell and see it climb higher, than leave it only to see it drop.
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That’s definitely one of the hardest things about investing. When a share does well (a la Genel) you start thinking ‘what’s my exit price’ and ‘where on earth am I going to invest my profits?’ When I do eventually sell my Genel shares, what am I going to do with the money?