Member Info for chilting

Shorts are still trading frantically but dam will burst soon !!!!

Yes - confirmation 58p

http://www.hl.co.uk/shares/shares-search-results/e/enquest-plc-ordinary-5p/broker-forecasts

Another Woodford company Itaconix is currently suspended because they couldn't issue accounts by June 30th, while they sorted out their funding.

Itaconix is very different, in that it has a bright future with commercial deals just starting to come to fruition. It seems that Woodford and IP will go ahead with funding and the SP could jump dramatically when it comes back to the market - hopefully early next week.

Yes, that would seem logical and would explain that they needed to raise cash to finance a project that had nothing directly to do with the Chinese deal. As you say exciting times.

A good outside bet - also close at hand off the Norwegian coast - is Grena Knutsen but not Jasmine Knutsen - Grena is on charter to Teekay but Jasmine isn't anymore.

For fans of Navion Britannia the news is that Teekay have sold her - she is currently moored off Columbo Sri Lanca. -she is no longer on the Teekay fleet list..

Best candidate for an ultraquick visit is Navion Oceania - currently in the Skagen area of North Denmark - she isn't waiting for her normal destination of Alvheim because Navion Scandia is on her way there.

Also keep an eye on Navion Hispania just out of Rotterdam.

Hello Auson

You must be a devil for punishment - oil and construction - good to see that ENQ is going the right way !

That has I think been happening for quite some considerable time squif but with low summer volumes it is much more noticeable.

The way I read it is that gross profit is good - they make cheap beds and sell them at a very good margin.

However, the expenses ie mainly marketing are extortionate and that has wiped out the profit and incurred a smallish loss.

So a lot of the cash is still there but as the business model doesn't work they are stuffed and have to change it.

They have got rid of the architect of the business model and now have to move forward.

The question is - is the Dreams deal the future or just stock clearance ahead of close down.

Thank you very much for the update MO - if it took a long time to work out it has to be the rig.

No sign of any tanker activity towards Kraken yet but fist favourite has to be Navion Hispania - just out of Rotterdam.

Heather is on her way to Rotterdam to offload but that would mean a big delay.

http://www.proactiveinvestors.co.uk/companies/news/200100/ceres-power-sees-strong-demand-for-20mln-share-issue-200100.html

Funding completed and looking good.

We always expected a cash call, although the Chinese deal could have made it unnecessary - so here we go.

Much more detail in the RNS, including details of a new factory near Horsham in the final planning stage - exciting times !!!

The cash is being raised quickly by the Accelerated Bookbuild Process - info from Investopedia

"With an accelerated bookbuild, the offer period is open for only one or two days and with little to no marketing. In other words, the time between pricing and issuance is 48 hours or less. A bookbuild that is accelerated is frequently implemented overnight, with the issuing company contacting a number of investment banks that can serve as underwriters on the evening prior to the intended placement. The issuer solicits bids in an auction-type process and awards the underwriting contract to the bank that commits to the highest back stop price. The underwriter submits the proposal with the price range to institutional investors. In effect, placement with investors happens overnight with the security pricing occurring most often within 24 to 48 hours".

Headline shorts are down on short tracker - showing 0% but GSA may still be there on 0.47% or there about's.

Euroclear are due any day - were around 5.5% in May - hopefully down in June.

So I think we are well on the way to ending this frustrating period and hopefully the SP should motor soon and even squif will be happy !!!

I do wonder if the Dreams deal is just for stock clearance ???

Magnus has tremendous potential for improvement with plenty of reserves left to exploit - don't write it off !!!

The thing with these depleted assets is that they can be productive, sometimes only for short periods, it certainly makes sense to ramp them up when POO is high and if that means just drilling a new well or two then the profits are great.

Big sells probably continuing from yesterday - will be reported later in the day or after close.

May not even be a dead cat bounce here now !!!

As I speculated yesterday - could be Woodford selling out ????

WTI is actually Trump's blood pressure monitor - hence its erratic progress - when it reaches $77 Trump will explode !!!

squif
That is all true but things are not as they seem with Venezuela or Iran. While Trump has been blowing hot air Russia has been exploiting the situation.

In Venezuela -
https://www.reuters.com/article/us-venezuela-russia-oil-specialreport/special-report-vladimirs-venezuela-leveraging-loans-to-caracas-moscow-snaps-up-oil-assets-idUSKBN1AR14U

In Iran
https://www.ft.com/content/141e6662-bf11-11e7-9836-b25f8adaa111

So the alliance between Russia and Saudi is well on the way to dominating the world oil market and Trump doesnt seen to have a clue !!!

Brent has continued to loose ground to WTI - now less than $4 premium.

Not sure why, but I presume it trading related ???