Member Info for Jim800

Yep, holding yesterday’s gains is a great sign - as is US price still above uk one despite a pullback in gas futures.

Shorts have increased repeatedly and share price is 6p less than it was 4 weeks ago!

Which bit of that is losing their grip?

Surprised Genel haven’t released an RNS for this.

Still that would involve them doing a little work rather than just sitting waiting for an acquisition to fall into their laps.

Didn’t seem to harm the share price though. Still£12.84 after US close.

And Millenium increase again - up to 4.55 now

Declared shorts above 0.5% just ticked up again. Two shorters increased on Friday.

Qube reduced the day before then increased again - bit of indecision there?

Chrysalis doing pretty well so there’s nothing wrong with the concept.

Iraq court of appeal has overturned previous judgement ruling ioc contracts invalid.

That’s step one in a recovery (despite the fact Genel BoD did sweet f all yet again).

Isn’t picking solvent, reputable partners a function of management?

You might get double ply looking at recent surge upwards.

Better than me. I sold at £1.40 and bought back at £1.20 because it was in its new £1.20 - £1.40 channel - or perhaps not 😊

Broom - surely you’ve got that the wrong way round?

Those of us who have been invested here for years are clueless and those who are just joining might be far more knowledgable.

Hands up who wishes they’d sold up at £20 plus equivalent??? ✋✋

Stupmy - Thanks for coherent reply. Some others could take note!

I’m just looking at risk / reward probabilities and there appears to be more upside medium term than downside.

GLA - whatever your opinion.

Never mind the pipe let BP have Genel!

I’d swap Genel shares for BP ones.

Stupmy - ignore all the negative rubbish, some of us value all sensible opinions!

I'd discounted TA here. Although I'd accept it can inform buy / sell decisions for a "normal" company going through a normal period of operations and trading - I don't see how it could have forecast the sudden drop following latest update. Surely no-one is claiming TA predicted November's falls?

So, similarly, I don't see how TA can help with a share that may jump up or down dependant upon shorters' actions or the dropping of extremely good or extremely bad news and the instantaneous impact that may have.

Concur on the fact we're all floundering until we get the news either way (or a decent takeover offer).

Stupmy - what's your reason for thinking we'll revisit 52p?

Are you assuming that any potential write downs following the review will be worse than the fears the Share Price already reflects?

Or do you just think that shorters have sufficient financial clout to drive prices down at will?

Or will it just be as simple as fear overcomes greed?

Seems Voleon have taken the opportunity presented by recent share price falls and reduced their short.

So that recent fall was despite those buys to cover the short.

Looking better today though.

Sorry, have now found actual quote. Headline on HL website dated 12 Nov 24 was 'Diversified Energy reports Q3 net loss of $1Mn.'

All due to how accounting rules dictate how financial derivatives are managed and reported in the accounts.

I think (and I might be wrong) that given the amount of derivative playing about DEC do (see accounts for volumes of puts, sells, options, handcuffs and margin calls in addition to plain old hedging) they think they can make extra money on price movements up or down.

And of course given financial reporting requirements, if prices rise above hedges then it “looks” as though DEC are losing money come next accounting period. Headline for Q3 was “DEC lose $bn” despite cashflow being good.

I very much doubt the review will take this long as scope is so limited.

However, deciding how and when to announce the results make take a little longer.

Given Wood’s shambolic announcement of the need for a review and consequent impact on share price, hopefully they’ve learned a very expensive lesson on corporate communications.