Member Info for closettrader

Can't buy on Barcs.......

I remember about 8 years ago when this share had a 700%.....yes 700%....rise in a day from 0.5p to 3.5p on rumours of an agreement between PFP and the General.....and that was before the 10:1 share consolidation in 2015 to give PFP 104m shares in circultation. Now 272m shares in circulation so that would be an equivalent rise now from 1.9p to 13.3p....so we're not even at the starting point yet of the value attributed in 2010 before any rises on any rumours ......and now we have a Company prepared to take shares instead of cash to progress negotiations where our CEO states “I feel confident that we can move forward with them to the successful conclusion of the good faith negotiations that are progressing in Mozambique”

Excellent RNS news .....been tracking buy and sell prices this morning and all buys so far apart, possibly, from 1 sell for £315.
Looking good........

and what about the other 17 coal fired power stations that Hasina has promised by 2022.....?

That’s just my point ........I know it’s not unusual to have a change of Nomad...... but in over 10 years I have never received a letter in the post notifying me of the fact for one of the shares that I’m invested in. Why has this been done for EQT?

For those conspiracy theorists out there (which incudes myself) I found it interesting that on Friday I received by post a 'Corporate Action Notification' from Barclays regarding my EQT shares. It stated in bold DELISTING/CANCELLATION followed by 'Any action you may decide to take on the stock you do so at your own risk. The company has announced that it may cancel its listing on the LSE.....' and goes on to state the delisting dates ......and then 'Please note that the delisting may not go ahead and is dependent on the failure to appoint a new Nomad......'

When I read the first part of the paragraph my heart skipped a beat and I'm sure the same would apply to other holders of EQT in Barclays Stockbroker a/cs who'd received the same letter.

This is the first and only time in 10 years of investing that I've ever received such a letter just regarding the reappointment of a Nomad - even though this situation has and still applies to a number of companies in my portfolio.

Is this a scare tactic to get uninformed PI's to panic sell their shares before the impending transformational news I wonder......

Be careful here guys... regarding Production Licence:

'Impact on Panthera and an Update on Writ Petition Hearings in the High Court of Rajasthan, Jodhpur
We anticipate the change of government at the State should have a positive impact on processing of MMI's Prospecting Licence (PL) application as the new government must focus on bringing in investments and creating jobs.

Panthera will initiate dialogue with the newly appointed Secretary and Minister for Mines and other government officials, including the Bureau of Investment Promotion, Chief Minister's office, Minister for Tribal Affairs and local Members of the Legislative Assembly in the New Year.

Our first hearing in the High Court is currently scheduled for the 11 January 2019, however this may be delayed if changes occur within the office of the Attorney General following the election.

In the meantime, because of the very strong Stay Order received from the High Court we are in an excellent position to commence a negotiation process with the incoming government regarding granting of the PL. '

Every day, immediately after 4.30, the top risers on LSE has been all over the place recently.....go to thisismoney/market-data/risers-fallers

Fusion98: Perhaps a little background in the understading of an MOU issued by a Chinese company would be a good idea. From Dan Harris, who is internationally regarded as a leading authority on legal matters related to doing business in China and in other emerging economies in Asia talking about the differences in the meaning of Memoranda of Understanding (between China (an essentially civil law country) and the United States (a common law country):
.'In the common law tradition like that in the United States, an MOU means little. Only a signed deal really counts. This is not true in the civil law tradition. In the civil law tradition, there is the concept of good faith negotiation. Under that concept, it is not acceptable to simply walk away from an MOU if that would constitute “bad faith.” Common law lawyers hate the concept, but it is deeply ingrained into the civil law tradition. In fact, it is a core concept in the Chinese contract law of 1999.'

I'm not sure that PowerChina, one of the largest state owned companies in China, would like to have the label of 'bad faith' pinned to it by walking away from this deal...............

‘or would rather have another partner on board’ is another option

I'd rather have 2 dragons than 1...........

Yep..... I’ve been keeping an eye on the squabbling but I haven’t seen anything that mentions my suggestion.....

Has anyone considered that maybe the oil major likes the look of the prospect but doesn’t want to go it alone ......hence the exclusivity term ceases allowing another company to have access to the info...... the agreement is then split, say, 40% to each of the 2 companies, 20% to BPC. Just a thought.......

Obviously the I.Im/1.5m in the last para of my previous post tshould read 1.1billion/1.5billion

Just to throw another conundrum into the ring (as well as the reduction in Potter's salary to help the farm-in negotiations as announced just a few weeks before the latest RNS), in my 10 years or so experience of following shares a cessation of interest between 2 parties would normally be announced along the lines of 'X has now withdrawn from negotiations regarding Y and as a result the current exclusivity agreement will end on Z'. However, here the RNS has just stated that the exclusivity agreement has ended leading to much speculation as to whether the oil major has withdrawn completey. Red herrings leading to SP manipulation?

I do recall a situation a few years back with this share when the Environmental Licence was (even then) being discussed and the Environment Minister was making all the right noises and the share price was pretty buoyant (around 7p I think) - an article was then released in the Nassau Guardian where the Environmental Minister at the time stated that the risks of pollution from offshore oil drilling were too great and the BG would be against any oil exploration - the share price dived.

I have found in shares that generally the bigger the prize then the greater the manipulation.

For investing in AIM you have to be a combination of a detective and a soothsayer, working with the scraps of information (and misinformation) that can be researched and are given out by the Companies involved.

As a last teaser it is interesting to note that in March 2011 45 million pounds was raised at a share price of 18.75p for 3D seismics,etc. on our licence areas after which we had 1.1m shares in issue. We now have 1.5m shares in issue - less than a 50% increase in 7 years. Admittedly the oil price then was about $110pb (now its $66pb) but someone was pretty interested in backing our licence.......................

Investor112 - in June 2017 the directors bought £200000 of shares between them at a price of 1p...... can’t find an RNS of them buying at 0.1p...... and also if the company goes bust then their shares will not be worth a great deal ......

Electrified - have you read the RNS? Bahamas Petroleum Company plc, the oil and gas exploration company with significant prospective resources in licences in The Commonwealth of The Bahamas, announces a number of permanent changes to the CEO's contract which significantly reduces the basic salary, writes off accrued cash payments and ends accrual of conditional share entitlements whilst at the same time continuing to align management and shareholder interests

There’s also the conundrum as to why Potter agreed to his substantial pay cut only a week or so ago to, as Potter said in the Nassau Guardian ‘this step brings the company closer to realizing a partner that allows an exploratory oil well to be drilled’. Why would he have agreed to this if there wasn’t a very good chance of an agreement being reached?

Draft - what evidence do you have that Mr Moy's widow is a seller?

What we are talking about here is the recent restriction on buying.......the shares are tightly held waiting for news and it is generally difficult to be any quantity. Yes, you can put a Buy order in and it will eventually be filled but at a higher price than currently shown. Enjoy the sun ....and avoid being burnt........