Member Info for ELSteve

Although on second read, my belief was that the 6 month dividend was due in March so I wonder if the new feb ex date will be on top of that or are they rolling the dividend.

I think we do need an update to clarify how exactly we are outperforming managements expectations. Don't think I have ever seen a monthly dividend before but hopefully today's RNS will help build a more positive sentiment.

I would not touch GBP with a bargepole. The company website says "Targeting underexplored blocks in highly prospective offshore basins" Not sure the people who lost money here need another reason to throw more money away !

That's a stomach churner, horrible.

Unfortunately I didn't see time and sales for the first 10 mins mate, clicked on the screen to see the carnage later but the move down was brutal I wonder if anyone could comment on if they had stops and at what prices they were filled ?

The problem is that setting a stop loss on an AIM stock if you hold the underlying in size won't help you. If the market gaps down below 4p you will be filled at whatever price the Market Makers give you, if you get filled at all, so don't beat yourself up too much.

Unfortunately it could be, explains why the market makers were selling quite large amounts at 0.685 and 0.70 in the last 10 minutes if they have picked up stock at 0.625.

Also IG will just B book the trade so doesn't reflect the true market

Hi Neil, the strike price and the exercise price are not the same thing. The strike price being the level that the underlying is either bought or sold at and the exercise price (EDSP) is the prevailing price that determines as to whether the option is either exercised or not. The resulting transaction is settled between the two counterparties clearers and doesn't get booked through the exchange so you won't see the shares trading at the strike price. I know this is slightly off topic but useful if you ever want to trade options.

Neil, sorry but I think you have miscalculated along the line. If the company is paying a dividend of 1.05p then surely it must be worth more than 0.07p or around 5 days revenue in terms of market cap. In the derivatives world the exercise price is the level at which the market is marked to determine if the strike price is exercised or not and is not the same as the strike price.

Not sure what it is with TRP but this is the only chat room I need to filter people from.

AJ please just filter out the white noise. I have been in the markets for over 20 years so fully understand the stress it puts people under but remember an empty vessel makes the most noise. As soon as you read the words 'Golden Ticket' sing the song in your head then laugh and move onto the next comment. There are many people who post interesting and useful comments here, focus on them and not the irrelevant. Best of luck.

Not sure why it was removed as it wasn't terribly controversial but that was a correct guess

Looked like the market makers had a buy order for the day, dropped the price to flush out a few sellers then filled the order. The trade was just booked after hours which is perfectly legit.

I am starting to become slightly bemused by the share price, wasn't long ago I was selling some of my position at 75p and buying back around the 50p area. For the price to fall by 50% in 2 months would suggest something fundamental has changed but we have had no news update that would facilitate this, it almost feels to me like there is a forced liquidation going on. Anyone have any sensible theories ?

Ollie, the manipulators you refer to are called market makers and they decide the price of the stock as the company is not electronically through supply and demand. The price is falling because there is no reason for it to go up and the mm's either don't want to pick up the stock that would invariably have been sold had the price been higher or they can run a short book until a future news event. People do need to be slightly careful as to what they post as they could easily fall foul of the rule of Dissemination and this covers everyone using bb's like this one.

Don't apologise, a beer trap sounds pretty good !

Interesting days range, does look like we are forming a Hammer Bottom. I would like to see a close above yesterdays highs but that is probably a step too far, a close higher than yesterdays could be technically significant.

But in the mean time the share price keeps dropping and any good news which then comes out will rally the share price to almost within the reach of the previous high before it backs off again leaving people wondering why it's still floundering given the potential of the company. Welcome to AIM.

The problem is that although the company has great potential this does not actually translate onto the balance sheet. The company makes no money and at some point they will need to disclose how they are going to fund production and this adds to the uncertainty meaning market makers can easily run short positions marking the price down daily. Adding to current long positions now is like catching a falling knife and until a genuine uptrend starts to emerge or some defining news emerges I am not going to average in, I am small long from the mid 30's and happy to sit and wait but I'm not going to throw good money into a falling stock.