The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
Remember YA cant short so it is in their interest that the SP rises and ramped unlike on other shares where they place a hedge short whilst they dump shares (so it does not matter if the SP is 50% below issue price). I would think that we will sit between 8p - 9p until they finish.
Lol ....They have had the shares for a while mate. Companies like YA obtain the share off market and then the company (Eneg) creates 'news flow' (think how many articles there have been all of a sudden recently on ENEG and their prospects etc.) in order to create a rise for YA to offload. Happens all the time. I also happened before a year or so back when ENEG rose to 22p on 'news flow' and then had a placement at 15p.
The large trades are just yorkville offloading. They drop the bid at the time of reporting to make them look like buys. Rest assured they will be offloading all 24mill so any rise will be sold into until it is cleared
That's only 19 million shares to go. lol
That's the issue.....how much are they producing from the well after 4 years? must be less than 100bopd? We know the pressure has recovered and they added to capacity via erection of larger storage tanks on site. They have always been cagey when it comes to this well. I know a few that sold out of here because they felt they were being strung along. I agree that there is upside here, but we now have a wall with 24mill bricks in it to bust through before it's let off the leash
http://www. manchestereveningnews .co.uk/business/business-news/enegi-oil-raises-2m-through-6742500
http://www. directorstalk .com/enegi-oil-make-a-solid-step-forward-says-sp-angel/
http://www. directorstalk. com/according-to-alan-minty-the-report-mirrors-the-objectives-of-enegis-marginal-field-initiative/
http://www.*****************/according-to-alan-minty-the-report-mirrors-the-objectives-of-enegis-marginal-field-initiative/
Apologies. Got sold some dodgy crack this morning and on a bad comedown. Minty's little indiscretion did not help!. That sorts the shares - but still a big overhang to clear short term. What worries me is that GHS cant fund £41K per month from production. They would only need to pump 250 barrels a day from the well to cover operation costs, wages for site personnel and leave £40K for other projects. We know that well can produce will in excess of 1000bopd. They need to come clean and provide clarity on issues (if there are any) and what they perceive as a stabilised production rate. This would alleviate investor concerns about future dilution.
What do you think the £41mill they are receiving from YA over 12 months is paid with? ..................Shares. They recieved £2mill for 24mill shares in exchange.......that leaves £39mill for XXXXXXX shares over 12 months
Yep Minty has truly f*cked us up on this occasion. Please note that: 'The Equity Swap Agreement provides for payment to the Company of £41,666.66 via 12 monthly installments' . This means that YA could be receiving up to 24/30mill shares per month to offload (300 mill by this time next year). I am sure that they could have easily got RBL lending with the OIP at Garden Hill at around 5% interest rather than diluting the f*ck out out the company. This could have been used to cover GHS costs and development and production income (apparently they are producing from the well but never tell us how much!), could have been used for financing other ventures / projects without diluting shareholders to nothing. Shame on you Minty. 'Peter Landau of Manchester'
Tej is busy ramping on twitterland......He knows its free money time soon on the lead up to the drill. I am sure Alan's son will receive some shares for his 'consulting work' shortly before they let it run. Watch what happens when it finally breaks that at level 9p. In the mean time waiting for the ask to dip below 7.5 again....snort snort
I thought you were still banned here as your eneg ASBO is still active as far as I am aware. The only entry I want to see here is into the shale and existing reservoir of 54api light sweet crude oil at GHS. Mrs 73...nice to see you are still around. All I can say is thank fark Minty is not running this operation and our partners are kindly going to progress things on eneg's behalf........he's not a big mover...too many onion bhajis with Tej in the Manchester office......., but his has bagged a free carry here into an proven system. ATB
Look for the figure i mentioned yesterday. That level should signify a decent PRZ and should be tested if Baker Steel still offloading.
: ))) 17p short could be a winner. Better keep it quiet as 292 might send you one of his famous pasty surprises.
Indicators very overbought, rise on ‘nothing’. No news from GHS maybe until new year (which would be the main price driver) and no money = placement at 14p coming.
Golden cross on 50ema / 200ema...sentiment returning as market realises ENEG is very undervalued to peers.
Another pipe dream from Eneg….£50mill to develop….£20mill with JV partner???….and Eneg’s income is????? Hang on a minute…..still looking….oh that’s right £0…..The market does not care about shed loads of gas in Ireland or Tej’s tummy…they want GHS online, producing 500bopd + and INCOME to finance these other ventures. What has exactly happened to the GHS ‘near term’ news that was promised, as the medium and longer term news is being released ahead of it?