Member Info for Crocqman

Nice surprise.
Went out to stack my delivery of wood at 2.30pm and returned to see the SP had swung from being down at 1.20p to being up at 1.375p at the close.
That should cheer a few nervous peeps up.
Let's see what tomorrow brings.
gla

Bernie,
I know you have an average higher than me.
Good to see you still have a sense of humour.
The rewards will come. it may take longer than most were hoping for, but the company is in a lot better shape than it was 6 months ago.
Still holding
gla

Agreed.
It seems that you just can't please some people, and some are always looking for the negative.

People have been crying out for news for days, asking where the RNS is, wanting continual updates and slating the company for being 'silent'.
An RNS is issued stating pretty much exactly what people were expecting to hear and within the companies own timescale, and those same people still seem to be up in arms.
Commercial testing has commenced and any flow rates, etc will be announced in due course.

My gripe, as someone else has posted, is that several posters suggested the site may shut down for xmas, which does seem to make economic and practical sense, and all were shouted down with everyone being told that the oil business is a 365 day business and that they clearly know nothing (long sigh). Even experts can be wrong.

SP was always going to hit a bump at some point in the process. We are still up more than 50% in the last 10 weeks and around 40% over the past year. Not many stocks will be showing returns like that with more still to come.
Some perspective perhaps.
Still holding and awaiting updates in due course.

gla

SP is up over 75% in the last 10 weeks.
Activity on site and still a week away from xmas when PV said oil would be flowing.
A touch of over-reaction from some folks on here perhaps?

I made a long post on the UKOG board today about communication as lots of similar posts over there. Applies equally here.
ANGS have corporate governance requirements regarding what they can and can't communicate.
Not what impatient people like to hear, but just let them get on with it.
If no news before the year is out, then not a problem for me.

gla

Understand the frustration. Seeing similar on the ANGS board.
Easy to become jittery when the SP is not reacting in a way we expect given news released to date and comparing to previous SP movements.
Have stated before that the lack of visibility from SS is noticeable and more PR is needed in the form of interviews and getting the Weald message out into the media.

However, there are corporate governance requirements that AIM firms must adhere to, which will cover all communication, so tweets, what can be put on the website, said in interviews, etc and they will be limited as to what they could say without making an official market release.

I am sure the company would say that they are complying with the communication arrangements outlined in their CG code (see their website under Investors - AIM Rule 26 - Corporate Governance Code).
Investors may not necessarily agree, especially when there has been such a big drop in the SP of late, but there have been regular RNS's issued during the EWT and they are obliged to release news to the market as soon as this is available.
They probably see 'the eyes' as a good source of unofficial PR too. Not many investors will have this level of additional information available to them on a daily basis.

The company does, apparently, encourage 2-way communication with its investors and responds quickly to all significant queries (per their own code).
I know other posters have contacted the company in the past, so maybe worth a shot for those that feel more should be done?
Of course, 'significant queries' could be open to interpretation, so may not necessarily guarantee a reply other than an official line from the company of releasing news through the required channels at the appropriate time.

Frustrating period while testing progresses, but remaining patient despite the poor SP levels currently.
There are wider global political and economic factors affecting all markets currently, so it's not just a lack of news here that is causing the SP drop.
Holding and waiting for official news.

gla

Thanks all for your responses.
Nice to get some decent after hours comments. This board used to be a nightmare at evenings at weekends, now it seems to be a more friendly environment than during trading hours!.
A little clearer.

My thinking was that maybe HNWI's could potentially arrange a short through their broker/Fund Manager, but would need substantial assets as collateral and jump though many regulatory hoops in order to be allowed to do so.
Unlikely that the average Joe investor would want to get involved.

It seems that like many 'facts' quoted on these boards, the truth may have been somewhat distorted to aid what the rampers and de-rampers want us to believe.
As always, dyor.

Thanks again. Good weekend all, hopefully next week will be a blue one. We are due a positive change and news must be imminent.

Genuine question.
I don't want to get embroiled in a shorting argument, but for me, it is clear that many (but not all) posters on these boards are implying that PI's are shorting the stock, based on the frequent tirades at any individuals who post a negative viewpoint, and all the posts telling them they need to close their shorts before the SP rockets.
Comments about shorts are usually aimed at individual posters, although responses regarding shorting always seem to relate to MM's and II's.

Ignoring MM's and II's, would it be fair/correct to say that other than via a spread bet (ala Seadoc), it is not a readily available option for the average PI to 'short' this particular share in the manner that many posters seem to be alluding to?

Some clarity with regard to the average PI's ability to short would be useful (for me anyway) as I am not convinced that PI's can and would be doing this?
Any takers for a rational, non-abusive response?
Thanks in advance
gla

DHC,
Why suggest others report posts if you think they are clear untruths and libellous/disruptive?
You can do that yourself.
gla

Was quietly hoping this would hold 13p today and consolidate for a few days before pushing higher on a news update.
Looking a lot better.
Not getting carried away and setting price targets, steady rises from here will do.
14p at the open tomorrow maybe?
gla

Good news and positive for the SP, but it's hardly flying (at the moment).
SS taking good advantage of an oppurtunity when it arises.

Hopefully the start of a reversal of recent SP performance with further testing results expected.
gla

Doh!
Didn't even see that, thought it popped up as the most recent.
Please ignore in that case. Apologies all, no intent to mislead.

Sorry, should have posted the link, thought it may have been seen already.
From the 121 Oil & Gas conference. Only a 2 min video.

Hope the link works.

https://www.bing.com/videos/search?q=paul+vonk+video&view=detail&mid=95A71AFC8F5945ACF96795A71AFC8F5945ACF967&FORM=VIRE

Thanks for the link, Yanis.
I couldn't recall when (or if) he definitely did say that, but I do remember that interview now as the interviewer was not on good form.
Yes, it is quite clear in that interview, but there is a more recent interview (02/11) where he states production in Q1 2019. Surely any statement made in a later interview is more relevant/accurate, even if it is not what people want to hear?
Hasn't there potentially been some delays due to permissions, etc before they could start mobilising the site?
What we can see is activity and progress, so if this happens in the first few weeks of Jan then not a biggie for me.
What is important though is that if there are any additional delays, or problems for whatever reason that the company informs the market/shareholders. Communication in this regard does need improving

Agree Jungerns.
I can't find the specific interview where PV says the taps 'will definitely be on by xmas' (if he did even say that), but the Sharetalk interview of 04/10 does state that the focus was on getting Brockham switched on in Q4.
Some people seem to have been posting that PV will lose credibility and will have been lying to the market if this does not happen, but some slippage in timelines can always occur, so not concerning to me if everything takes a little longer to be in place and taps are not switched on until Jan.
What we can see is progress on site and equipment arriving, so it can't be too far away now.

In a separate interview on 02/11, PV does state that he expects to be in production in Q1 2019. The company is now self-funding, so all is looking good and 2019 should be a good year for all the Weald Players.

Once production commences, the SP will take care of itself.

gla

gkb47,
The purpose of my post may not have been clear.
The point I was trying to make was that buys being reported as sells and vice versa on various platforms is not some kind of conspiracy, or MM game to deliberately mis-direct.
The direction of these trades are shown on a best efforts basis due to the multiple platforms used for trading and will not be 'real time' accurate due to sheer volumes of daily trades across all markets, exchanges, etc
Hopefully a little clearer.

Not suggesting for one minute that MM's do not move the SP as you state.

An extract from my post yesterday on the reflection of buys/sells and the sometimes clear differences seen.
I don't believe there is any manipulation in the reporting of trades.
Anyone with better technical understanding, please add/correct...

It will come down to cost and all the different platforms that are used for trading and the reporting of trades (of which there are dozens), as well as the sheer volumes of trades taking place.

Millions of trades take place daily across multiple exchanges, markets and trading platforms, not just here but via brokers in Europe and across the World (although they may use a local agent to transact).
Trades will be reported 'accurately and timely' to the relevant authorities (e.g. FCA) as well as ESMA as part of MiFID regulations and there are reporting timelines that firms need to abide by.
I believe this data is published by ESMA, but may only be available to investment firms, regulators, etc, and likely only on a next day basis (certainly not on a 'real time' basis).

It is all very complex and the likes of L2 can only manage to reflect transactions on a 'best efforts' basis and should always be taken as a guide only (imo).

gla

Couldn't resist.
Small top up at 1.455
gla

dm,
Maybe best folks dyor, make their own decisions and stick to their own strategy.
Merely pointing out that people complaining about the SP do have a choice, albeit maybe a tough one.
Too many ready to play the blame game when it comes to heir own investments.

And yes, if you want to paraphrase my post, then those are some of the options available, you haven't covered all bases there.

gla

gla

whatwhat,
Not sure if your post was in response to mine.
I am doing ok with my investments, could be better, but happy making my own decisions and accepting my own mistakes if/when I get things wrong.
If you have a decent balance of investments it is likely some will do well at times and others not so well, not many will be picking winners every time.

Good luck with your investments too.

Brocal,
Patience is definitely key, but LTH's do have an option. Unfortunately, it is a tough and potentially painful one (take a loss and move on).
I took that decision with one of my blue chips recently, Held a 30% loss for over a year waiting for a recovery but sold at a 2k loss and reinvested elsewhere. Feel a lot better for making that decision too.
Not advocating anyone does that here (DYOR).
Currently down more here (in £ terms) but have a lower average than many, so maybe easy for me to say that.
Still holding until the end of EWT, but have been disappointed with the SP reaction to the testing updates despite my more modest SP targets..
Having said that, I may top up at this level when funds become available as the Weald is proving up and imo the current SP is good value.

gla