Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
The Sea Lion Discovery Area is due to expire on 15 April 2020.
At 31 March 2019 the Company had been notified
of the following interests of three percent or more
of the Company’s voting rights.
Shareholder/Fund manager_Number of shares_% of issued share capital
Majedie Asset Management_34,723,166_______7.59
Hosking Partners_________17,781,329_______3.89
Aedos Advisers___________17,545,290_______3.84
A one-off bonus of between 100% and 200% of salary will be payable at the point of project
sanction on the Sea Lion Development with the exact quantum at the Committee’s discretion
> sustained low oil price;
> joint venture partner alignment and funding
issues, both of which could ultimately create a
delay to the Sea Lion Final Investment Decision;
and
> insufficient liquidity and funding capacity in the
event of a protracted delay to the Sea Lion Final
Investment Decision.
Stewart MacDonald
Chief Financial Officer
1 April 2019
Monte Grosso, Italy (23% working interest)
Rockhopper transferred the operatorship of
the Serra San Bernado permit (which contains
the Monte Grosso prospect) to Eni during 2016.
Since that time, options for the design of a well on
the Monte Grosso prospect have been explored
and work undertaken to secure the permits and
approvals required to drill a well.
However, on 12 February 2019, the Italian
government introduced certain further changes
to oil and gas law through the “Sustainable Energy
Bill”. These changes include, amongst other
things, a temporary suspension on exploration
activities including the drilling of exploration wells.
Discussions are ongoing between the Serra San
Bernado joint venture partners to agree a
forward plan.
So my experience with bed and ISA this year was through HSBC, other stockbrokers may differ.
I asked for a single share trade to move all £20k ISA allowance from dealing account to ISA account, I had previously opened my ISA account for the new tax year which I had done a few days earlier, not exactly sure how long that would have taken to process but the actual Bed and ISA trade was done while I was on the phone and at all times I was talked through the process so I knew what was happening.
I had a sale charge of £10.50, a purchase charge of £10.50, plus the standard £1 PTM levy for trades over 10k.
During the transaction I "lost" 33 RKH shares due to spread, so about £8.41 ish worth of shares.
Crofty
making a few assumptions carrot will need about £3 a share to break even and £6 a share to get your target profit. I think that is a long shot and if I'm honest I don't think this share will see those levels again. To get back to those sorts of levels the stars would have to align, the seas part and the Isobel complex would need to come in around double the size of Sealion - Rockhopper would have been taken out well before then. You need to remember the price of oil when the price here was £3+ and we owned 100% with fewer shares in issue. We have diluted our assets and issued more shares during a severe drop off in oil prices that looks to be holding firm.
Realistically £2 would be an epic result and at that price carrot doesn't break even. Times have changed.
Director changes - RNS
Anyone see this?
Non-executive Chairman, David McManus is retiring.
David will be succeeded as Non-executive Chairman by Keith Lough, currently the Senior Independent Director and a Non-executive Director of the Company since January 2014.
Alison Baker will replace Keith as Chairman of the Audit and Risk Committee
An then goes on to say that it is anticipated that Tim Bushell will step down from the Board at or before the Company's AGM in 2020.
Forget global warming and electric cars, the planet is heading for a new ice age, the price of oil and gas will rise just as Sealion comes on stream.
STRONG BUY
test, at least my login works on this site!
Looking at the last 30 days trades on Sinosoft it would appear that our steady buyer has been at work again. Steadily building up in daily trades of initially 50,000 shares at around 7.5p and as recently as today 25,000 at 8.5p. It is difficult to say how many this particular buyer has picked up so far in total but I would estimate them to have bought around half a million in recent times which is not an insignificant amount.
The value (market capitalisation) of Sinosoft is almost entirely made up by their hoard of cash, with this being in US dollars and with the pound expected to be as low as $1.20 in the not too distant future this should prompt a modest (1p or 2p) rise in share price for Sinosoft??? It will be interesting to see the next set of results from Sinosoft and how the company handles the recovery in the Chinese economy. There should be plenty of further government contracts around soon aswell as the many private enterprises that are currently booming, while we have unemployment in the west they are reporting a labour shortage in China. At some point the Sinosoft share price will start to reflect the value of the company itself and not just its cash reserves.
Looks like the share price is on the move again. The question is will it retain these gains or drop back a few pence as has happened before. On 10th Sep 2009 it reached a peak of 10.38p and then fell back to 7p on the 2nd and 5th Oct 2009 On 22nd Oct 2009 it reached a peak of 10.95p and then fell back to 7.55p on the 6th and 8th of Jan 2009. On 11th Jan 2010 it reached a peak of 9.35p and then fell back to 6.5p on the 5th and 8th Feb 2010. Now we are at 9.25p is this the peak or will it continue to rise further and when will the fall back happen and how low will it go?
Date of article: 2010-02-15 14:41:23 Economic restructuring to boost China's economy, make it a "real tiger" in 2010 "The key for the transformation is to achieve it "at an accelerated speed" and with practical results, he added." "China's economy expanded 8.7 percent in 2009, staging a speedy recovery after being hit by the worst global financial crisis in eight decades" ""Growth will not be a problem this year as the economy has bounced back from a the big slowdown," said Wang Xiaoguang." http://news.xinhuanet.com/english2010/indepth/2010-02/15/c_13176014.htm
Date of article: Tuesday 26 Jan 2010 2:46 AM ET Extra Reserves for China Banks Take Effect, Markets Hit "knee-jerk selling of Asian stocks" http://www.cnbc.com/id/35070681
Date of article: Sunday 10 January 2010 19.52 GMT China becomes world's biggest exporter, "Chinese economy on track to grow by 9.5% in 2010" http://www.guardian.co.uk/business/2010/jan/10/china-tops-germany-exports
Trading Update - 11th Jan 2010 Sinosoft, the China-based developer and provider of software and IT solutions to Chinese regional and national government agencies and exporting enterprises, is pleased to provide a trading update for the financial year ended 31 December 2009, ahead of the publication of the Company's preliminary results for the year which are expected to be released in April 2010. Following the announcement of the Company's interim results on 23 September 2009 the Company has experienced an improvement in trading conditions. Whilst the economic environment and operating conditions remained tough, trading in the second half of the year improved across the business specifically in export tax and e-government, where the Company has managed both to build on its sales of value added products and secure new e-government contracts. As a result, the directors are of the opinion that revenue for the year ended 31 December 2009 is expected to exceed current market expectations. Competitive trading conditions, marginally higher than forecast operating costs and a slightly different sales mix have suppressed margins; improved sales have resulted in profits after tax being broadly in line with market expectations. Ms Xin, Chief Executive of Sinosoft, commented: "I am delighted the Company has had a successful year despite tough economic conditions and look forward to the publication of our results. We will strive to build on this momentum during 2010 in order to deliver maximum shareholder value." -ends-
I would love the share price to go down a bit so I can buy some more!! Don't think for 1 minute that I want it to fail, the reality is though that they have so much cash in the bank that the share price can not go much lower than it is, it just wouldn't make sence. Basically what we have with Sinosoft is a company with enough cash in the bank to warrant its market cap alone and in addition to this all through the global down turn it has continued to win contracts and turn in a profit, the bulk of which it keeps back for future investment but still pays out a reasonable dividend. And all the time it is just waiting for China's govt to restart the big Export Tax contract that is a real money spinner. Whoever just bought 250,000 shares at 8.7p can expect a 0.31p dividend which is 3.5% and the prospect of the share price getting to 20p in a couple of years time and beyond that if things go well. You reckon it might be Guy Thomas, I really don't know but what I have noticed, and I have posted this before, is that everytime the share price settles you get the typical bored PI's selling off their small holdings, the share price drifts down a little way but before it can get very far someone mopes up all the spare shares. It wouldn't surpise me if this 250,000 purchaser is just adding to what they have already got over the last 3 months or so.
...and just as I thought we were going to drift back down to 6 or 7p. 250,000 shares purchased at 8.7p per share which is about £22k in value and that one purchase alone has moped up all of the sales for the past month. Doing some trend analysis on this share shows that the most recent 10 and 20 days trends are downwards but the over-riding 50 day trend and in fact since as far back as March 09 is overwhelmingly upwards. Looking at the 1 year chart there is an almost linear increasing support trend for the share price. I reckon that if the next RNS / trading update is a favourable one then we will be through in to double figures for sure. I was hoping that it would drop down to below 7p so that I could top up with more shares without raising my average to much, oh well, I'll just stick with what I've got.
Dangers of an Overheated China By TYLER COWEN Published: November 28, 2009 http://www.nytimes.com/2009/11/29/business/economy/29view.html?_r=1&em