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GG - I for one would be very happy with a £1 a share!

GL

IK

This is looking more and more like M&A activity.

The consistency of purchasing as "UNKNOWNS" does not correlate to sporadic buying by a "NOMINEE" Co for PIs.

The question for me is still: Who is selling?

GL

IK

JBT I think you are right.

If you average the 4 mill "UNKNOWNS" they avg 9.25 which seems a bit too pat to me.

Then add in 2 low prices and 2 high prices - it gives the impression of potential BUY/SELLS

thereby neutralising the trades i.e. keeping the spread steady between 9-9 1/2 for market perspective.

All a bit conspiracy theorist, but we know that MS is a large buyer and seems too much of a coincidence.

GL

IK

Mr Gez

Broadbrush:-

Shares in issue 245.7 mill

Major holders + Directors 129.5 mill (inc nominees)

Others 116.2 mill

N.B. 6 mill "UNKNOWNS" were posted yesterday fom previous day which were almost certainly "BUYS" re pricing.

The MMs have been acting on behalf of MS by the look of it and pricing accordingly to fill a large buy order - lots of small sells to suppress price followed by large " UNKNOWNS" posted at BUY side of market late in the day or next day.

It does follow that stock should dry up eventually and possibly a rerate occurs.

Have to say though that I am suprised as to why anyone would sell anything at the moment based on improving information.

GL

IK

GL

IK

JBT -Good morning to you - yes mon ami I believe you are correct but we have to keep it simple for Trollers.

Your understanding, and mine therefore points to potential for something else - hence my comment re M&A.

Pie in the sky maybe, however, a corporate (possibly BIGOIL) might be trying to get a foot in the door of Uruquay.

Someone may have missed out on the original licences for example.

Also possibly Chevron may be trying to increase its stake surreptiously?

All suppositions and may be wrong but worth a thought at least.

GL

IK

Good luck Sir.

"Nominee" - a person or company, not the owner, in whose name a stock, bond, or company is registered.

Glad to educate you John despite "The level of naivety with idiocy" prevalent in some posters!

GL

IK

We now know who the " UNKNOWN" buyers have been.

The question for me and has been for a few weeks now is:

Are MS buying for their UHNWI/HNWI clients as Nominees OR are they acting in their M&A capacity?

Time will tell. Either way this is supportive for the SP.

Good luck.

IK

Pers - Maybe they are sleeping with the fishes!

Hi Black.

I believe you are correct and actually my view of last 2 weeks upsurge/trading has been possibly due to larger investors putting in market orders to be filled.

The amount of late or next day "UNKNOWN" order posting has been quite substantial - large orders are made - small sells are aggregated - averaging of price is performed on completion of order- late or next day posting of BUY trade is posted.

N.B. The majority of the final postings have been at the top of the market i.e. the buy side of the market.

All this IMO says that larger investors are now taking note of the better metrics for CEG.

My question is when does the stock start to become scarce and we potentially get a re-rate? There are far less shares available now than ever before.

Good luck all.

Cheers.

IK.

Pers - Sublime mon ami - cant stop laughing!!

Actually in4 I dont think its going to make too much difference because the way this govt is going on we will be at parity next year!

GL

IK

OOPs! Sorry in4 - quite right.

BB You may have hit the nail on the head re fees.

They may be hold overs from yesterday for example to be included for last quarter.

It is end of quarter and custodians charge handling fees for stock positions with a minimum spend per quarter.

Some if not all of these deals today and yesterday may be clients literally doing a deal to pay the requisite minimum brokerage for activity trades for the quarter.

The other theory (conspiracy maybe) is that the price is being somewhat suppressed for position build ahead of full sign off of Chevron deal in next few weeks.

P.S. Last bit was just to wind up The trolls!

GL

IK

SALIENT POINTS FROM INTERIMS IMO:

• LEGACY ISSUES FROM BAHAMAS CLEANED UP AND ERADICATED.

• CLEAN BALANCE SHEET – TRINIDAD AND URUQUAY FOCUSED.

• £1,800,000 CASH IN HAND + £800,000 IN “RESTRICTED” CASH TO BE RELEASED BEFORE YEAR END. THEREFORE, A YEAR’S WORTH OF EXPENSES COVERED.

• £12,500,000 EXPECTED BY YEAR END – CHEVRON.

• START OF 2025 - £15,000,000 IN THE BANK.

• MAJORITY OF EXPENSES PAID FOR URUQUAY UPTO DRILL.

Whatever we spend now is of our own volition. We are unencumbered.

In principle we have 5+ years of cash with all major expenses paid by Chevron up until drill when they chip in half of our costs for drilling.

Seems like the best position I can recall the Company ever being in.

Well done, Eytan.

GL

IK

JB

Have you considered that a payment of $12,500,000 underpins the SP at current levels as virtually totally supportive of the equity realisation vis a vis the current SP?

Have you considered that Chevron have now guaranteed a free ride to CEG until drill date with guarantees within the JV to pay up to $35,000,000 of costs pertaining to runup to drill date? I.E. CEG could, if they wanted to, just do nothing for the next 18 months or so, because Trinidad broadly pays their day to day expenses outside of Exploration expense?

Have you considered that we still 100% own Area- OFF 3 outright which by any reasonable assessment is equal to the OFF -1 Chevron deal and therefore has “goodwill/intrinsic value add to the SP?

Have you considered that the whole Uruguayan exploration area is owned by majors or super majors? Why?

Have you considered that AREA-OFF 3 is geographically more proximate to the Brazil Basins which have proven history?

Enough for now. There is more.

GL - If you are actually invested? Are you?

IK

Hi in4/BlackBat

I'm not hanging my hat on a p.m. RNS in any way shape or form but you never know.

The amount that JB is CHALLENGING his ENERGY into CEG is admirable.

The way JB seems to work 24/7 in all time zones is quite mind blowing - maybe he is Superman and can reverse The World's rotation.

On a serious note: I do get that this is Uruquay's first sortie into F.O. territory offshore etc.

They need to get Ts & Cs spot on.

However, it is taking a bit too much time for ratification IMO, if they want to be the percieved as erudite and expeditious to the oil business world and I think that might need to be taken into considertion.

Possibly for example: approval is about or has been done and Chevron have decided to go for Area 3 as well.

(My question to that is: Is a RNS legally required if it has been done - anyone know please?

P.S. In my experience of trading when something might be in the wind, the MMs mark stuff down to get stock from weak sellers.

GLA

IK

Acerbic

It's not Monday yet you idiot!

Oh I forgot you gewt Saturday Sunday etc mixed up - what time zone are you in this week?

Don't bother answering I'm not interested in your ascerbic rubbish.

Hi Black

Bit of late end of week action - hope you are right!

GL

IK

Garry I have no idea what you are talking about.

I'm just saying give us a bit of an update nothing else.

You obviously misunderstood my point.

GL

IK