was offering 11.28p but no seller prepared to make the trade.
Hopefully they will be back tomorrow and offer more. Good sign that the larger sellers are finally drying up.
in the auction again after 500k. Will be interesting to see if there is still a seller around this time
Whilst GTE are driving the business forward, we should not forget that their share price has fallen 28% in 1 month.
I agree that AMER could be doing things more quickly, but our current share price isn't a fair reflection on the business
I would like to see a share buy back, but not as a defensive strategy. Most aggressive takeovers occur when you have dominant shareholder (close to 30% holding), that is unhappy and becoming vocal. Rex could have been this person, but decided to exit instead. The company is undervalued no doubt, but i don't see any one on the radar about to try and take this business aggressively.
The BOD have the option to buy 10% back, which would only cost say $15-$20m. They have more than enough cash to fund both the short term exploration and buy the 10% back.
The only reason they should not do the buy back, is if they have something else to spend the money on that would drive a greater NPV, otherwise the cash is not being made good use of.
I would like to think they are about to make an acquisition with the spare cash and this is also stopping the directors buying. If not then you have to question what they are playing at.
thanks
3 buy orders on the book for 2 shares each! lol
They are quoting good gas shows but the figure looks incorrect in the first article (1,01,260??)
https://www.ongcindia.com/wps/wcm/connect/en/media/press-release/ongc-videsh-declares-fy18-financial-results
https://www.ongcindia.com/wps/wcm/connect/en/media/press-release/ongc-videsh-comes-across-good-oil-and-gas-shows-in-colombia
Energy majors ONGC Videsh and Geo Park are forming a Colombia-headquartered joint business development group to create a long-term partnership in Latin America to achieve their expansion objectives. The Indian oil major is also looking towards Ecuador for expanding its presence. Speaking to FE, Ravi Bangar, ambassador of India in Colombia and Ecuador, said, “Jointly, the companies intend to leverage the platforms, experience and strengths of each company and to create a long-term successful partnership in Latin America to achieve their expansion objectives.”
In February, ONGC Videsh and Geo Park Limited, a leading independent Latin American oil and gas explorer, operator and consolidator, formed a long-term Latin American acquisition partnership for large-scale projects. Geo Park also has operations and growth platforms in Colombia, Peru, Argentina, Brazil and Chile. Bangar said: “This joint venture is now progressing after ONGC found hydrocarbon reserves in its Mariposa-1 well in Colombia. ONGC Videsh is the operator of the block and holds 70% participating interest and Amerisur Resources of UK holds the remaining 30%.
The company is now drawing up plans for the development of the Mariposa-1 well that began a test production of 4,500 barrels per day. The success has also opened opportunity for further exploration in the block.” “It will jointly acquire, invest in, and create value from upstream oil and gas projects with the objective of building a large-scale, economically-profitable and risk-balanced portfolio of assets and operations across Latin America,” the Indian envoy added.
Just reading through ONGC statements. I didn't realise Mariposa also discovered Gas. Did AMER ever mention this?
I agree, it's a bit odd
Following MT1trading's ramping tweet, AMER are now following him/her on Twitter.
Maybe they agree?
Possibly on Pintadillo. 3 weeks ago AMER said the below, so news is imminent.........
"The Company expects to complete re-mapping of this discovery in the next four weeks, followed by a decision on further drilling to appraise the discovery."
When New Stratus announced their intention to acquire Vetra, they commented....... "Vetra also holds interests in the block VMM-2, which it intends to dispose prior to closing of the Transaction."
On the Vetra website it says "Vetra Energia also has a 100% WI in the La Punta block and a 60% operated interest in VMM2 (40% Canacol) which contains the Mono Araña field"
In the GTE recent announcement, they commented....."We have also acquired a 60% WI in the VMM-2 Block in the MMV Basin, located near our existing MMV assets"
So it appears GTE have bought Vetra's interest, paving the way for the New Stratus deal to complete
A good thing with CFDs is that as a retail investor you have to place guaranteed stop losses. If you use the closest possible you can only lose 25%. With AIM shares I think this is very important as bad news can destroy in a share price overnight
Personally I only use tight stop losses when trading FTSE shares. Only last week the spread on AMER moved to 6% and you would get stopped out far too easily. I think with AMER traders will put their stop losses at support levels.
There was a clear support level at 11.4p and when it broke the sp quickly dropped.
The good news is the 11.4p which became resistance has now been broken so hopefully on to the next resistance level at 12.2/12.3p
You only need a 25% deposit hence only need to invest 30k
1m shares @ 30p is 300k less your original 30 less cgt is about 200k
Same principal applies to the buyer and seller. 100k is small so if Rex is offloading he would do so without trying to crash the price. Although that didn't stop him recently!
If there is an ii accumulating I would expect them to do it relatively slowly so they don't spike the price. I also think Rex still has a little bit left as there are still 100k sales going through.
Most of the retail investors will be nervous and wont buy until it breaches 20p+, by which time they will have missed out on the big win on offer at 11p. If news of a big deal came out and the price opened up 50%, you would soon see the herd arrive.
Non UK resident only notify at 5%, 10%, 15%. If cannacord are still buying they need to move from 6% to 10% before having to notify.
Yes still going on but more subtle. 3 trades in the last 30 mins at 191, 191 and 192