Member Info for davwal

Priorities change, I guess. The interest of others in deep-water drilling must have helped.

So they have actually just got back the portion of Guy they’d previously relinquished...

From the website:
“The Second Renewal Period is from March 2019 to March 2021 and is further extendable by one year by the MME. Eco relinquished the Western half of the Guy block, which was not a priority and a requirement under the License.”

Rather generalised and lightweight share tipping. I hold the other stock he tips, TCAP, and his comments don’t reflect the current situation where the company is shortly to commence a RI to provide funds for a strategic takeover. The uncertainty over the RI discount is dragging on the sp. The company is worth a look though, partly because like Brown it’s not seen the benefit of recent market gains.

Yes, I meant the market in general. A few of my other holdings are now in the category of ‘if only I’d sold them a few days ago’...

Doom and gloom taking over the markets today. Let’s hope it’s not another great drop coming.

It’s mainly psychological, I know, but it’ll be great to see a close with a buffer over 600. With all the volatility around it makes a change to hold a stock that is less spikey.

I bought in on the day of the results and added more yesterday with the view that this stock is a solid longer term hold.

Well I just hope Namibia projects coming up turn up some good news, which should liven things up for ECO. Still a wonder to me that ECO still hasn’t replaced Tullow with all the stake building that’s occurred in the last year or so.

I’d left a sell order in place equal to my allotment, for 60.5. Sold for 62.4 in the event. All happened before I’d got my arse into gear. Will re-enter and replace at an opportune moment.

Yep, I’ll take it. A good finish to the week all things considered, which should set things up nicely heading towards publication of the results.

Basically, to my understanding the OO is being implemented in the interests of the business, not the Alliance family other than by terms which all holders would benefit (or be equally disadvantaged). I don’t for a minute believe the other major holders would sit back and take any jiggery pokery. I’m comfortable with it.

Ignore that, I’d got mixed up re A’s current holding.. clear as mud trying to decipher the bloody thing.

But A has underwritten the issue. His shareholding either remains as is - ie no additions under any option, or any number up to the max (as per the underwrite obligation) depending on take up by all other shareholders.

These things are quite difficult to read but I noted this in part six of the chairman’s letter:

All members of the Concert Party who would be entitled to participate in the Open Offer have irrevocably undertaken not to take up their pro-rata entitlements under the Open Offer (the “Concert Party Basic Entitlement Shares”).

Steady as she goes. A close above 130 would be in keeping with continuing the overall positive momentum.

The other major shareholders will likely be pleased to see the Alliance holding reduced proportionately once they’ve all taken their allocation.

Good to see an uptick after the volatility of yesterday. Let’s hope it’s a blue finish with no day trade shenanigans.

The sp is now being kept pretty tight by the bots. Not too much up and not too much down. Goldilocks manoeuvres...

The Alliance family wouldn’t be taking a back seat in the OO if they wanted to take the business private. They are underwriters only, so only get shares not taken up by others. The time to take private was at 15p. They want a successful business from which they will benefit along with other holders.

Trades probably just reported late.