Member Info for gmed

If connecting too the grid might be a problem, I would expect the BoD to be aware of this. I think I would want some firm assurances from the National Grid people that they will look favourably on the connection application before signing on the dotted line.

Funky, I too have been with this one for a long, long time and have never lost faith in it (although I get a nasty look from my wife whenever I mention the company's name). I've always expected to make a very good profit and still do, although it is taking a bit longer than I had expected. I certainly wouldn't sell at 5p, because I think that if developments are good, they will be VERY good and the sp will zoom past 5p without stopping to catch its breath. So I'm going to hang on for the ride, which promises to be an exciting one. I'm looking forward to the day when I can look my wife in the eye and say, "Hah! Told you so!" and she will say, "How could I ever have doubted you, dear". Help me out here, Larry.

Paul Welch at SDX quit or was sacked today. I wouldn't be surprised to see him turn up here to replace LL who, don't forget, is interim and has no real oil/gas experience, as Welch does. I, for one, would be very unhappy to see LL go and be replaced by Welch, who by the looks of it, has less than a sterling record as CEO at SDX. I'm probably just letting my imagination run wild, so don't take it too seriously.

Sorry to disappoint you, RA, but if one MM raises his sell price above all the others, the only effect will be that the others get all the trades at the market price and he sits twiddling his thumbs. I think you're still missing the basic principle of market making - that prices are driven by orders, not the other way around. Accept this and you'll spare yourself an awful lot of unnecessary frustration and aggravation.
Like you, I'm hoping for a healthy rise in the sp. But like so many other things in life, wishing will not make it so. In this case, it will have to come from buyers in the market. While we wait for them, though, I was hoping we could do a deal at 12p, but I assume the deal's off now. I knew it was too good to be true. lol

Great that you look at it that way, RA! Let's do an off-market deal. I've got a load of Angs shares I want to sell to you at 12. Do you want to send me a cheque or transfer the money to my bank account? I'm happy with either one.

RA - if you were a market maker, would you be willing to buy at 12p right now? Me neither. There's your logical reason.

I ought to add that I do agree with neeko in that the price movement (or lack of it!) since the placing does not correlate with the flow of orders, which have been largely buys, and that one would normally expect the sp to be much higher than it is today. So we must look deeper for an explanation and, tbh, I don't have one. I first thought it was book-levelling after a couple of weeks of heavy selling (buyers of the 3mln pre-selling?), but this is now going on so long I'm starting to question that explation myself. A very large sell order being filled? Could be, but somehow I doubt it. Who knows? I do know that the order pressure is upwards and that sooner or later the sp will have to reflect that.

I've already explained that several times but there are a few posters here who haven't yet got the message. The MMs set their prices based on three factors: the flow of orders, their own book and the competition from the other MMs. They do NOT base their prices on news or expected developments, except as these are reflected in actual orders. They are not in business to make money on positions in shares; they earn their living from the spread between their buy and sell prices. In fact a good market maker always tries to keep his book flat. I'm not sure how it works these days, but I would think that most prices are set by an algorithm in a computer and not by a human and algorithms can't read RNSs. Algorithm or human, though, an MM is far more concerned with volume than he is with price. When volume goes up, profits go up, regardless of where the price is or whether it's rising or falling. At the same time, games can be played to allow, for example, the completion of a large order or to level a badly unbalanced book or perhaps to trigger stop-loss orders (the famous tree shake) but I think these are far less common than is assumed by many. Also, some of the MM firms have divisions that do actually take positions in shares and it's not inconceivable that their MMs occasionally help them out. My own experience goes back many years (the jobbers on the floor of the exchange kept their book using a pencil and liitle notebook), but I don't think the principles of market-making have changed all that much since then.

I'm switching to Barclays!

Silas that's very reassuring. Thanks.

Makes sense. Thanks Mirasol.

Why do the results have to be discussed in the first place? Angus is the operator, no?

Just what I was thinking. I thought the oil flowed naturally to the surface. They've managed to do it once again - issue an RNS that raises more questions than it answers.

I agree with Mirasol - the man does have to earn a living and he can't live from what we pay him for his consulting time :-). I'm assuming he's not connected with angus but that he owns a fairly large chunk of angs shares, which he bought when he thought angus would pay off very quickly. My guess is that he would have done things very differently and is totally frustrated by the unnecessary delays and arse-backwards way things have been/are being done. But now it's in his interest to keep us all informed (thank you alan) and therefore invested and also to attract new buyers by providing them with good factual information. I may be entirely wrong here but I've been reading alan's posts since he joined this bb and it's a gut feel. If in fact he is working for angus while pretending to be an ordinary poster, he's got me fooled and, I suspect, a lot of others as well. If that's the case, give the man a pay rise George. (If not, no pay rise from us - sorry alan) lol

That's true,Nhawan. But if you were an mm, would you take the risk of holding a large position when all your competitors are getting rid of theirs, freeing them up to get back to making money on the spread in an actively traded share? I think I'd take my loss. That's just part of being an mm.

I think you put your finger on it stocktaker. Nothing more complicated than that. The past few weeks of selling have loaded the mms with shares. Now that there's enough buying demand to get rid of them, they are competing with one another. Look at the buy prices: 3.9999, 3.9998, 3.9995, 3.9992. The lowest asked gets the trade. And I agree that once they have their books levelled, the buys will send the price up. But as so many here point out, this is the AIM, so anything is possible.

I don't know how they manage to do it, but just about every RNS from this company raises more questions than it answers.

Sorry to disagree, but it was clearly a sell. Look at the trades around it.

It lives!

I'm not against placings if there's a good reason for them and I would not have objected to a placing of a million or two as an insurance fund to be able to develop Balcombe if Brockham disappoints. But 5 milllion? And to put part of that into a clapped-out old gas field? I hope the board knows more than I do and in a year's time we'll all be calling them brilliant strategists.