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When I worked full time, the period from to June to the end of August was known as the "silly season". Kistos' "offer" falls very much in line with what happens during the "silly season".
The Serica Energy Operations Update makes it clear to me, the company has no need for the AA.
GLA
I have been waiting years for Serica Energy to become a takeover target but 382p for my shares, no thank you. I'm happy to hold for another 10 years.
Over to Kate Coppinger & Jerome Schmitt.
GLA
Geowiz posted the following earlier on today on Block Energy (BLOE) LSE Chat Page:-
"Cash in bank was $1.2 mm at the end of March
Not enough to pay salaries and hire a rig n crew etc
I agree they need finance. But who’s likely to think this will give a return?"
Geo continues to deramp two micro cap AIM listed explorers, I wonder why?
GLA.
sasa43 - the last 10 years have taught me to buy & hold this share. I foolishly sold some shares at below 100p, but I have been trying to buy those back (I bought some more back this morning).
Putin is restricting gas supplies to Europe, that story seems to have passed the media by.....Blackrock have done their research & increased their holdings, that says it all for me.
GLA.
GLA
Geowiz has been busy this morning, posted the following deramp on the GBP chat page:-
"A no news update always leads to an attempted placing
How long has this got left on the clock?"
It seems as though Geowiz sees himself/herself as the protagonist.
GLA
With probably $1.5 million + in cash, probably plenty of "time left on the clock".
Why are you bothered Geowiz? You told us ages ago they you don't own GBP shares?
GLA
BLOE Chat Page readers, Just to let you know, you are not the only ones who endure the constant deramping of Geowiz, here is his/her latest GBP LSE Chat page deramp :-
"Despite the hubris this clearly needs another raise assuming it wants to trade into next year. $2mm at beginning of the year and spend is consistently in the $1.8 mm per year range. That’s the main problem. Holding at the next dilution point which has to be in the cards will be painful".
Is there any chance, given the recent rise in the BLOE share price (congratulations), that you folks could have a collection to buy Geowiz a new Derampers Guide ?
GLA
Oh dear, the following was recently posted by Geowiz on the Block Energy (BLOE) LSE Chat Page:-
"Will these guys ever drill another well? Or is the kitty empty?
Need an update on production levels and cash in bank".
I think "the needle must be stuck on the record".
GLA
"The respective discoveries made by the Graff-1 and Venus-1X wells (see Global's announcements of 7 February and 24 February 2022) have heralded a major new petroleum province. These discoveries, especially in light of their reported scale, may be expected to institute a structural change in investor and industry confidence in Namibian offshore exploration.
Given this, the view of Global and its advisers is that companies, particularly potential new entrants to Namibia, will need significantly more time to understand the geology and petroleum systems offshore. As previously announced, Global believes that there is commonality of both source and reservoir between the two discoveries and PEL 94.
Accordingly, the Company intends to keep under review the PEL 94 farmout process and, in particular, the timetable, having due regard also to the flexibility now provided by the licence extension". GBP RNS 25 April 2022
The clock is ticking, Abrdn has £300,000,000 of shareholders cash in its coffers (received in January 2022), no word from the Board as to when shareholders will receive their money. When Standard Life sold a Canadian subsidiary, a "Capital Return" of 30p + was made in November 2018, a precedent has been set, distribute shareholder cash !!!
I see that Geowiz has been deploying the funding/lack of cash/dilution deramp here, he/she posted a similar deramp on the GBP Chat Page yesterday. Some would say that Geowiz is starting to sound like a "broken record", just buy some BLOE / GBP shares Geo.
GLA.
Geowiz posted yesterday the following on the BLOE chat page a few minutes after his /her GBP posting:-
"Any massive success with funding would need a massive dilution. These funders want their pound of flesh".
Geowiz continues to deramp GBP and BLOE using the Deramper's favourite narrative, "capital raise / dilution coming", I think that might signal that Geowiz wants to buy more GBP and BLOE shares at a cheaper price.
GLA.
Hi Geowiz - I see you posted a similar message on Block Energy's (BLOE) chat page a few days ago, are you looking to buy cheaper shares in GBP and BLOE ?
GLA
Indeed, when is Mr. Bird going to update us on his "Turnaround Plan" ? Confirmation of when shareholders will receive a special dividend from the sale of Phoenix Group Holdings shares (January 2022) is long overdue imo.
On the plus side 7.30p dividend to be paid on Tuesday 24 May 2022.
I was a bit miffed when I ordered an introductory case of wines from Virgin Wines a few months ago, they subsequently debited my card for £25 to build up my "wine bank". Told them no thanks and the £25 was refunded immediately, the wines were good but I don't want to be charged month on month for wines that I have not ordered !!
I see that Geowiz is back to deramping, he/she has also been deramping BLOE today :-
"Or if you are lucky, watery oil.
They must need more cash soon though, when’s the raise? "
Must be stuck on page 1 of the Derampers Manual, claim that a company needs to raise cash. Using that Deramp on both GBP and BLOE on the same day might indicate a desire to buy shares at a lower price.
GLA
It looks to me as though the Market Makers want to dispossess PI's of their Arcm shares this morning. I've stuck it out this long and I don't feel inclined to line the pockets of Market Makers.
GLA
When I read the RNS this morning I thought at last after 11 years as a shareholder we have transformational news, Mr. Market clearly did not agree today.
After hearing that AA are entering into a JV with Arcm, I have no intention of gifting my shares up to a Fund Manager, Market Maker, Trader etc, I'll hang on for a few more years thank you.
GLA.
The nightmare of the 1 for 100 share consolidation in March 2017 is now firmly behind me, contrary to advice of numerous share pundits to not average down, I decided to average down my Arcm shares.....very glad that I did having read this morning's RNS.
GLA
Taken the opportunity this morning to top up my trading account and ISA account @ 1.585p.
Hoping that we receive positive drilling results in the near future.
GLA