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I meant guide to the trade being buy or sell, most certainly not a guide to investment!!! The problem is that depending on the algo, they only work well for large volume shares, which often is not AIM shares. I can only say again, learn to look at the pattern of prices, not the colours, as these will vary according to which platform is reporting them.

Just to be clear, only the prices are passed onto the platforms (who then use an algo to, essentially, guess whether it was a buy or sell.

the bhoys, it's noted correctly as a financial transaction, but after then it's down to the platform taking the feed information to provide an indication of whether it's a buy or not. And how platform's does that can, and usually does, differ. It's a service simply provided as a guide.

Nobody should be making an investment / trading decision off the back of what is reported as a buy or sell. If you do that, you aren't really making an informed decision at all. There are many reasons why one makes an investment or trade, but if it's the momentum that you are interested in, look at the pattern of prices, never ever at the colours, as they are worse than useless.

Unfortunately, doesn't matter how many times folks are educated to this fact, the herd belief seems to rule all.

thebhoys - and so? It's simply down to the platform algorithm as how trades are reported. The london south east system isn't too great. On the quotestream system the 15.29pm 200,000 at 2.07p is indeed shown as a buy and the 15.58pm 100,000 at 2.0638 simply shown as an unknown. So, there's nothing untoward, it just depends on the algorithm used by the platform.

To add, it's the case that one of the MMs came off the 2.10 Ask just before the close, suggesting upward pressure.

bespoke, agree, could signify something, but then not. We will see tomorrow.

nope, was an uncrossing, so make of that what you will.

*new year!

On the basis of the average sold by Lombard up until the 12th, they would be struggling to sell all of the shares by that time. Remember, they've been selling since Dec 17th and by Jan 12th had only sold a third of the shares (although volumes dropped over the festive/mew tear period)

Nelly B

Petroleum Invest, I suggest you re-read the recent funding strategy RNS. It makes very clear that the recent funding has not all been raised for the P1 drill alone, but instead for a comprehensive 2021 drilling programme, across the portfolio of assets.

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It's important to distinguish between having funding in place and ' funding raised', as your post seems to suggest that the in-place funding for the CERP assets has been exercised when it has not, as far as I understand the RNS.

I'm happy to take input and otherwise be corrected, but in addition to the 217,000,000 shares that Lombard had remaining last week, we have another 185,000,000 coming on stream as a result of the Put, with a potential further 185,000,000 shares should Lombard take the Call. (There's also 37,500,000 to cover legal fees but I assume this have already been worked through). Is that correct?

Now, the funding strategy also includes the remaining £12m to be raised on the CLN. Confess I've forgotten what the issue price, but if 2p , would be another 600,000,000 shares to be issued. Is that correct?

Important to note, also, this would only cover preliminary work on the CERP assets (in addition to P1) - "Over and above this, BPC continues to work actively on a range of other financing alternatives as part of its overall funding and risk mitigation strategy, and will continue to seek access to incremental capital"

In fairness, omj is not a deramper, he's usually quite level in his thoughts.

Bahamas Petroleum Company (BPC) issued a lengthy announcement headed “Funding Strategy: Reconciliation & Put Option” which I doubt many will read in full. Bottom line is that large numbers of shares are being and will be issued. Perhaps OK if the well comes in, but the Perseverance #1 has a very low chance of success and failure could result in a share price bloodbath. The profit to be had here would have been in the run up to the spud, but their financing approach prevented any such run happening.

to do a bit of rampertti business on vineo

https://vimeo.com/474194682

brynon, I do think the buys at that level or slightly above are indeed buys. I did think it odd that after a very tight spread at 2.035-5 there were a flood of small trades at 2.10, and which have since definitely brought in more buyers. It strikes me as the MMs trying to generate interest.

Of course, much of the 'buys' over the last few days have been Lombard sells. Again the london south east / Advfn platform seems only adequate for the reporting of narrow spreads on large volumes, not the sorts of volumes that BPC handles, and so everything appears as blue or red (when the spread is tight). On other platforms, they are simply determined as unknowns.

Blues can be sells
Sells can be blue
If you follow the colours
More fool you

Alternatively, go 50/50 or ask Jemery.

To add, it's that tight that the 2.04s could even be buys. Basically, Lombard trying to get the shares out the door pronto.

Currently 0.01p. Buys at 2.05, sells at 2.039 to 2.04p

jmann to laallee?

Sells are red
Buys are blue
Those are the colours
So must be true