RE: And still18 Mar 2019 21:29
f1, I don't disagree with your point in relation to oil being out of favour for some investors and the same can be said for the same sentiment when it comes to the public. Yet we still have 2 cars on the drive, take the skies and fill our oceans with plastic.
I also heard the same comments when I was invested in BATS but the sp still creeps up and continues to pays a handsome dividend.
In response to Ade57 comment earlier, I did not see a selloff on Friday, volume was higher and the majority of trades above the bid. Difficult to determine with the timestamp and the constant interjection of the AT's. However, every time the bid seems to strengthen the AT's are out to bring it below 17p with the extra effort made at the close in order to make the sp look weak for the following days open.
I'm sure many investors here have their own views but I have 3 views on the current trend...
1.We have an agreed price transfer of shares which has not yet triggered a Holdings RNS, or we have a buyer and a seller happy to take the price as it suits both parties.
2. The company is out of favour with institutions based on past performance, missed targets and lack of trust in delivering. Also the Rex Harbour fallout which is still having an affect on sentiment.
3. The company may have had an approach or discussions with a third party in relation to a takeover and the sp has been held back in order to meet an agreed price.
The director deals late last year was very spontaneous given that the sp did dip below 10p briefly. If they were not purchasing at that level then you would have thought they would have been vocal on defending the poor performance. Maybe Rex Harbour suited their agenda at the time.
Putting all the guess scenarios to one side the reality in relation to the sp is this. By the end of the year, money banked could bas as much as half of our current MC. The current PoO is generating excellent revenue. Our production and reserves are increasing and we have a drill program that could beat all analysts expectations. Regardless of sentiment, all the ducks are lined up nicely for AMER, even if you ignore the OBA pipeline and last year's promises. The sp is being held back for a reason, why has it not fallen below the 16p level? This is being orchestrated and manipulated for a reason even though the fundamentals appear to be improving.
Frustrating as it may be for the moment it will change and I bet it will favour those investors willing to be patient who can ignore the 'market games' we have no control over. If Cal 1 is a duster then that may shakeout a few weak holders but that will only be a temporary setback. I will be more than happy to add on any further weakness.
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