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Some Funds are Income Funds like Pension Funds. They may have spent a lot of time & effort averaging millions of pounds into CNE to obtain the best prices. With their eye on a cash payment or share buy back. Trading Tullow around 50p might not be their mandate, so what happens if they start off loading their positions…..

It might be less that 9p, what’s the ‘Fully-Diluted’ Issuance ?

Do you think the Trade may have been covered at it’s average price ? Which may explain the price discrepancy. Something to ponder perhaps. SINT = Systematic Internaliser matching, ie off Exchange. BENC / TNCP / LRGS = large Trade @ Non Price Contribution to Discovery.

WTI now below $90 @ 89.71 & Brent $95.55. Both well established below their 200 Day moving averages. How far do they have to drop before it breaks the camels back ?

WTI 91.97 & Brent 98.06. Just be grateful it’s the FT250 valuation at the Month end or this would be back at 40p.

I do have concern about this. In the old days there was books. Now it’s the Internet with so much noise & misinformation. Just makes it more impossible for folk to work out what’s really going on. But then this has always been about taking money off people & achieving those bonuses.

Hi Anton, a combination of equities, debt & bondholders can be a big red-flag. Were assuming a merger of combined undiluted issuance but nothings been actually stated, just Tullow’s new shares. Which is open to anything. What’s causing the delay, what’s being discussed ? What will it take to please the 'preference' Bondholders ?

The industry that controls around 90% of the stock earn their money primarily from order-flow-volume. Volume drops off around 60p, so consolidation is highly unlikely. Dilution to pay off Bondholders may be an option.

Hi Jmax, What’s been traded so far today, only £196k & a third of that is Short. I’m guessing this will be a flat Month until after the FT250 valuation at Month end. Then if oil is continuing down ……

The Industry are trying their best but Oil is struggling & stocks only go up if fresh money is added. Remember this is the low PI participation UK market. This will be worse after the merger with twice the volume to shift on moves.

Hi Thepom, The stock spiked 70% as PI’s bought on the news. Stock was sold to them at higher & higher prices. But the stock was sold to them Short so the rise had no value. Dependant on what price the Shorts were covered. The built up Short position was later covered in the After Market at only 13% above the previous days close. Extracting the increase that they had input. If the stock had not been sold Short it could have closed up say 50% or so. Sadly they didn’t have a clue what had occurred even though all the data was in front of them ie a huge After Market trade.

One share that was funded by issuance used one nominee account to hold the new stock. The Industry then sold Short to PI’s over the day & covered with the ‘feeder’ account in the After Market. During a news point day the stock rose by about 70%. After the end of day cover, around a 13% increase was left on the table at the close. Nothing was posted on the bb as PI’s were completely unaware that the increase had been extracted. Two days later the 13% value was extracted & the stock closed the Week flat. Sweet.

POG was at a point of starting to pay dividends. Now it’s in liquidation, lets hope this doesn’t go the same way.

Risk control, Oil looking a bit toppy & contract changeover tomorrow.

My concern is will there be dilution of the Tlw market cap element. If the answer is no then fine, what you see is what you get. If that’s not the case then this will come at a cost to Tlw Shareholders.

Tlw is around 90% owned / controlled by the Industry who make their money by other means than investing as PI’s understand it. There are other ways of making money / extracting value from non performing stocks, than just the most basic method. It’s not want you can see, it’s what you can’t.

‘oh no, who is going to support the SP now ?’

Look up Hedge Fund Long / Short strategy & then CNE /TLW’s SP’s.
The wider the spread between the two, the bigger da profit.
TLW is low volume traded & very easy to move doon as ye can see.
All of this has nothing to do with investing, but very profitable all the same.

Hur, Hbr, Enq, Tlw etc, all price managed by the same firms. But when it’s completed it’s completed & time for a reset. These standard Industry trades or the mechanic’s of are not discussed on these bb’s, because everyone’s investing.

Come on fella’s you can do it by the end of the day, you don’t have to wait until Monday to complete da process.

'does TLW EVER go UP?'

Yes if the value is input. Problem is that it isn’t, so the Industry can only ‘work’ the value that is present & that is what ye see. Theses a different game being played here, if only folk realise. Most don’t or don’t want too because it’s out of their comfort zone. But there is money to be made, lots of money.