Member Info for K3VMC

LuckyLuciano

“ Sorry but on this I am not for conspiracy theory... ”

That’s what makes a market. If we always thought the same as each other, it would be a very dull place indeed.

:-))

From the 20dma. This is a stock Zak Mir follows. It will be interesting to see if it appears on his charting podcast today.

Thank you market makers. :-))

Tree shake straight off the bat!

Eazy, my thoughts exactly. Possibly with increased flow rates.

There was no real need for this RNS today, other than to steady the ship. The potential JV has already been vetted for several RNSs, do a LOI is not exactly earth shattering. Having said that, it tells us that the improving cash flow will all be to the benefit of COPL and not part of the JV, which is good news.

Extreme heat will increase energy consumption, which will increase gas prices.

Bubblepoint

“ In fairness, I do NOT hold any Angus stock, but I am still following the processes & occasionally posting, possibly looking for the opportunity”.

TMW in your posts for me. Thanks for popping in, though.

605k

20-Jul-23 13:26:21 15.88 605,000 Buy* 15.00 16.00 96.07k

Below placing price.

Nice resource in a top class jurisdiction.

Stas20

“ While there is no legal requirement to announce the commencement of a share buyback before initiating it, many companies do choose to communicate their intentions to the market as a matter of good corporate governance and to provide transparency to their shareholders and investors. ”

I’ve never seen a share buyback started without an RNS to that effect. From what you post, it seems that it is possible to do that, but it would look shifty and I don’t think the bod wants to look shifty.

Regardless, I see it as “imminent” in the usual aim sense of the word.

That would be illegal. They can’t buy back unless they tell the market.

Monday, I think there may be a buyback RNS. Post director buy, post presentation, where they said the sp was too low and that they were considering buybacks, it’s pretty much telegraphed to the market.

Spike501

“ Agree and I'm not averse to a great deal, but I'm not sure how many are on the market at the moment that will be accretive to existing shareholders.”

I’m sure they have a greater visibility of deals available than the average PI. As per the presentation, they stated that no deal would be done, if it was not value accretive.

“Plus they already have enough opportunity to develop for the last deal they did”

Per the excellent article already posted today, oilers share price is rewarded for buy backs in this market, but drilling is detrimental.

I fully expect share buy backs to commence shortly, but have been buying again recently, based on the 8% yield and the forthcoming capital reduction.

IMO DYOR

Bankrupty

“ double the size of USA and nearly as big as Russia.....lol ”

One quarter the size of the USA. and an eighth the size of Russia.

Singhie

TMW

Put another way, I wonder if he had a spare £100k lying around, to take advantage of a surprise drop in sp, or if he made special arrangements to have that ready for an anticipated drop in sp?

Regardless, he will have a basic 8% yield, plus any special dividend, plus the cg on the rise in sp, after they RNS the special dividend.

They halve the dividend and switch to quarterly, dropping the sp. Director buys £100k or thereabouts, so gets a bargain.

Meantime, everyone has forgotten that they have shareholder approval to reduce capital and pay a special dividend.

“The Company's share premium account currently stands at approximately £51,000,000. As at 31 May 2023, the Company had retained earnings of approximately £6,000,000. It is proposed that the Company's share premium account be cancelled (the "Capital Reduction"). The proposed Capital Reduction is intended to increase retained earnings by an amount equal to the amount standing to the credit of the Company's share premium account.

The purpose of the Company's cancellation of its share premium account is to create further distributable reserves in the Company to facilitate the future payment of dividends (in cash or otherwise) to Shareholders, where justified by the profits of the Company, or to allow the redemption or buy-back of the Company's shares (or other distributions to Shareholders).“

Just not reported yet.

RNS 8th June 2023

The Board considers it highly desirable that the Company has the maximum flexibility to consider the payment of dividends and otherwise return value to Shareholders. However, the Company will be precluded from the payment of any dividends or other distributions or the redemption or buy-back of its shares in the absence of it having sufficient distributable reserves.

The Company's share premium account currently stands at approximately £51,000,000. As at 31 May 2023, the Company had retained earnings of approximately £6,000,000. It is proposed that the Company's share premium account be cancelled (the "Capital Reduction"). The proposed Capital Reduction is intended to increase retained earnings by an amount equal to the amount standing to the credit of the Company's share premium account.

The purpose of the Company's cancellation of its share premium account is to create further distributable reserves in the Company to facilitate the future payment of dividends (in cash or otherwise) to Shareholders, where justified by the profits of the Company, or to allow the redemption or buy-back of the Company's shares (or other distributions to Shareholders).

Insider trading is illegal, which you can report to the FCA.

As for their cutting the dividend, they are presumably acting in the long term interests of the company and its shareholders. They seem happy to increase the dividend depending on market conditions, but if you aren’t happy with their decisions, then why not sell and invest in the majors? Nothing wrong with having a balanced portfolio.

GL

And another 2.5m buy.

Same wise person, or a different one?

Wasn’t me, sadly.