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Anyone who thinks that the Greeks sign contracts in August needs a reality check or rather a pleasant weekend in Athens as it is empty with all the decision makers at their country homes.

Pencil in something for the second week in August!

Now as to Billingham?

Well the blazing hot weather there is less of an issue.

Government sign off which probably wasn’t hurried if it required a ministers signature in light of the elections.

Cascadura Deep on track for news around mid November!

Time to tidy up the ISA’s?

Yep all the free 10% crowd. Sadly it’s somewhat killed the momentum until there is more news.

Would have been nice for this to be 0.75p before any increase as it is it will be a slightly slower and longer journey back to 2p.

Recent placees locking in their “Free 10% gain” that’s all. Entirely predictable behaviour from fund managers “Happy to help” but no real interest in holding the stock. Essentially it’s a small “Broker tax” that has to be paid so as to get away oversized placings such as DP undertook.

Speaking out and saying anything that might even hint at local politics is a no win situation at the best of times but even worse is during an election or change of government.

Both NGC will now be able to conclude their business in the knowledge that the prime minister has not been altered although they prefer to wait until the oil minister has been announced and sounded out.

After all TXP is in the market for more exploration ground.

Compliant required to be filed by 7th of September then.

Yep thankfully it’s a gas target which is why the Capex to get it to market is peanuts given the gas pipeline is nearby. Also handy that Trinidad is very short on gas.

Wall of sellers after lunch. Clearly some have made some tidy gains and want to trim. Worth remembering that a few of the institutional investors who bought at 40p probably have had to sell to balance their risk given lots of shares have fallen 20% since February.

The hint is called an RNS

Also the one certainty we now have is if they have a deal it’s not with Stelios given an announcement is imminent. DP understands 100% the Aim rules on disclosure.

The big upside is that there will be no deal with Stelios who post easyJet has been a serial failure and trying to repeat his version of the “Virgin” branding playbook.

Much better to deal with someone respectable, also Stelios has a bad habit of trying to interfere in management, which has never been his strong suit. Just ask easyJet.

Now if EQT were to announce a Greek contract Sir Stelios might suddenly be liking for a real partner to deliver on his business plan with an ability to demonstrate the concept in a Greek setting.

That might get very interesting after all Sir Stelios’s value add is the ability to access capital and maybe Greek connections not technology. Also EQT’s Irish, Spanish and even U.K. heritage would give a lot of comfort to Brussels who will be providing the soft finance to turbo charge the returns.

10am

Txp was reversed into Petrobank in April 2014 when the current management team took over. Essentially they took over a failing oil company as part of an agreed process.

Looks like they came with a plan in 2014 and it took them to 2019 to organically put together the pieces before they were able to “Go Big” exploration wise with Coho the first of those “big spins of the dice.“

So this story is actually 6 years in the making and being done by a team brought in back in 2014. I am guessing they are looking for a big payday!

In truth EQT have gone from 0.08p to 0.5p so it’s about the same.

But hopefully with more substance and no less upside?

10p plus?

They are short of stock and trying to frighten a few sellers out without too much success.

The last couple of weeks post the fundraising it was very easy for them to make money.

If any of them are short this could move up 50% without a struggle so the MMs are probably being "Sensible."

Lundan the Easybod tweet is clearly DP having a bit of fun with the market after a rough placing experience in the last few weeks.

And we all know that he knows the rules very well so the tweet will be “Thematic not insider.” Bbut maybe just maybe in parallel and without any reference to the “Our Friend in the North” I think we are about to see a nice release on Billingham and Scott Bros. Just a guess obviously.

In the old days wasn’t this play called a double bluff? Do remember he is Venezuelan where saying one thing and meaning another is taught from an early age!

“They wouldn’t be the first”

Small correction on my text!

The legal stuff assuming it goes no where will probably just sit around as a note on the accounts for years.

It’s probably not much more than a shakedown with Aries most likely not willing to take the chance of a court process but equally EQT not interested in spending a fortune in money and effort on an entity that would turn out to go bankrupt ten minutes before judgement.

It’s possible this was actually an attempt by Aries to sell themselves to EQT or others as an IP company? They would be the first and as viral adverting submitting a writ is very cheap! Much cheaper than PR.

Yesterday’s Twitter push and today’s robust legal rebuff RNS have to feeling that DP is looking to clear out any stock overhang before we get either Billingham or Greek news.

I am betting Billingham where EQT and it’s partner will shortly announce they have bought out the Scott Bros enabling them to talk to the bankers from a position of strength given Scott Bros balance sheet is a bit “Thin.”

Just a guess of course?

Given that momentum investing has been a winner for the last decade and value investing an “Open Goal” I am trying to go with the buy if it keeps rising philosophy.

But it’s hard work and the value investing devils in the back of my head keep on trying to persuade me to check out “Bargains!”

Mind you nothing is easy as my 0.72p buy just before the placing highlights! But up 60% overall on the strategy so what’s to complain about?