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Share price has been a joke today due to manipulation That 8p was put through at 16:21 as a buy but clearly is nonsense. It is incredible how this nonsense persists. The only people that lose out are sadly the private investors. Feel pretty deflated in all honesty after today. No doubt when logging details are released something else will be used to supress the price. It's about time holders were rewarded here
Really great news for all holders. It has been a tough few months to say the least but hopefully now this will put an end to the constant torment!
The Company intersected the R1, R2 and R3 horizons on Saturday 15 December. Hydrocarbons were encountered in these horizons as prognosed and in line with the Company's geological model.
The R1 was intersected at 1273.3mMD and formed of claystone and siltstone. The R2 was intersected at 1283mMD and was formed of sandstone and the R3 was intersected at 1303mMD and was formed of claystone, dolomite and siltstone.
The Company will continue drilling towards the next target horizon, the Mengo. Once the Mengo horizon has been drilled through, the Company will complete a full suite of Schlumberger wireline logging to fully evaluate the properties of both targets.
AAOG Executive Chairman, David Sefton, said: "Encountering hydrocarbons at the first target is a major and long awaited milestone for the Company. The confirmation of the geological model and initial results from these targets also provide increased confidence as to the expected results from the next target horizon.
I would like in particular to thank our operational team who, under pressure to deliver results quickly, have worked tirelessly to repair and overhaul the SMP rig that has disappointed to date. In many cases they have stepped in to solve problems that should have been addressed by SMP's personnel. The need to do this has led to slower progress than originally scheduled, but the team are determined to ensure not only that the well continues to be drilled but also that it should be done safely and without jeopardising the integrity of the well or the target horizons.
We also look forward to the General Meeting later this morning. As shareholders are aware, we have not drawn down any further on the Sandabel facility. We want to replace this source of capital in the near future in part to meet costs of completing the TLP-103C well, and continue to examine various potential sources of funds. The Company has several offers of debt capital, and will also consider the issuance of further shares, but in each case only on terms and at a price which properly reflects the position and prospects for the Company."
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Thanks for the explanation strongman. As you say, nothing we can do about it. Just don't understand how a market maker can be allowed to play a stock like this
I've been watching the trades all day for several weeks now. Serious question:
Why is a 50, 100, 200k sell able to push the sp down (without fail) and the exact same quantity as a buy 'may' move the sp? To illustrate this, just look at the last 8 trades. 563,000 buys and 173,150 sells and the price drops...
This has been happening for weeks. Just curious to try and understand
Marineville I have no interest in entering an argument. At the time you posted the price action was as mentioned. Following those 2 larger sells they did start to put through sells as buys. Glad you picked up some up at 6.7. Best of luck
Incorrect marineville, i've been doing exactly what you say to make sure. However, 2 larger sells have gone through whcih have swung the balance back to more sells
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MMs seem to be moving the share on very small sells/buys. Hopefully news is close!
Just wanted to say I am very grateful for you taking the time to provide your updates to this forum. It has been really appreciated.
200k at 7.32
Hopefully you can wait another 24 hours Jacky, you have waited this long after all :)
Apparently a 1.2 mln bpd cut has been agreed. All helps!
Haha Pete, there's no point. He knows perfectly well there is no placing :) Sadly this board will be the home to many new faces this week as all the attention is rightfully going to be with us. Best buckle up!
As Strongman pointed out earlier, your motives have been clear for a while and this recent flurry of posts confirm what everyone already knew. No one has an issue with traders but for the love of God can you just be transparent?! Your not fooling anyone and your scaremongering is getting tedious to say the least. The rns has been explained multiple times across LSE and Twitter. You are trying to instill fear amongst the naive and want to profit from that. . To everyone else, I'm glad sefton has listened to pi's and this is a confident announcement. I'm looking forward to the results and next week should be great for all.
I was referencing our friendly tormentor on hot copper :)
You're starting to sound a bit like Warnie WAaussie!
Here are the details from the announcement:
In consideration of the acquisition of a 50% interest in each block, Occidental Andina will fund a $93.25m exploration and appraisal program between 2019-2021. Occidental Andina will fund 85% of the total planned 2D seismic cost expenditure of US$65,000,000 and 100% of the US$38,000,000 planned drilling program.
The companies have agreed there will be a dedicated transport capacity in the OBA for the transport of oil from the Farm-out Blocks, with a commercial tariff charged for Occidental Andina's share.
Amerisur Exploracion Colombia, a subsidiary of the Company will be the operator of the Farm-out Blocks, which extend over 1.4 million acres and have prospective resources of 656 MMBO. The work program includes the acquisition of 878 Km of 2D Seismic and the drilling of five exploration wells.
That was my concern! Just doesn't seem to add up. Even more interesting is the fact that the share price was 20 percent higher fairly recently without the farm out news. AIM really is becoming more and more unpredictable