Member Info for moneyhawk

Both LSE and ASX closed on Friday and Monday. But it looks like US markets are only closed on Friday, open Easter Monday.

Will be very interesting to see what OTC does on Monday with their source of stock closed.

While it’d be nice to think BP would buy out acreage, it seems very unlikely with the current noises they are making about their future direction.

Then you need to consider they’ve just sold all their Alaskan assets for ~$5.5b, which included huge infrastructure, producing wells, estimated 1b reserves, plus anything else they haven’t found, and the TAPS. So to suggest they would now pay us $10b for possible reserves and no infrastructure is a little bit naive, to put it politely.

In case you missed it, BP decided to sell up and leave alaska almost 2 years ago, including their stake in the pipeline.

https://www.bp.com/en/global/corporate/news-and-insights/press-releases/bp-to-sell-alaska-business-to-hilcorp.html

No one knows how this is going to go. In a weeks time we might on a much higher SP, or we might be inundated with people posting its only the idiots who didn't sell. Profit is profit, wouldn't criticise anyone selling if they're worried about losing cash and the risk is too much.

17.06 - Brokers buying does seem the most likely reason to me for many of the large trades (but not all). When someone buys on OTC, they are not buying directly from the exchanges we're listed on, you won't see an individual buy/sell on OTC popping up the list of AIM trades. They are buying from an OTC broker who is essentially acting like a MM. Until this month there was next to no trading on OTC, and now they're on an average volume of over 450m a day over the past 10 days. Those brokers have had to get the stock to sell from somewhere.

Impressive volume on the OTC market. Over 130m in the first 10min

We're not listed on the NYSE, but on the US OTC market which has the same trading times.

Gaining a big following in US. In the top 10 most active discussions on Stocktwits, just below the likes of Tesla, Bitcoin and Gamestop, and number 2 on the list for the most new watchers in the last 24 hours.

https://stocktwits.com/rankings/most-active

10.53 - Could be, but we don't have enough info at the moment to really know just what it means. I had got the impression that the primary targets for Merlin was the comparable targets to Willow, i.e. N18/N20, while the primary target of Harrier was the compabale targets to Harpoon i.e. N14

I think the '3rd target' has always been in the drilling plan.

I'm guessing where the update says:
"Significantly, one of these intervals is interpreted to be part of a, potentially separate, sand package that is also present in the Harrier prospect."

It means the 'N14' that can been seen on the slides for both Merlin and Harrier:
https://clients3.weblink.com.au/pdf/88E/02320688.pdf

Talking of US opening, we should be back to their opening time being 14.30 our time with the clocks going forward.

Some techincal analysis from a geologist on reddit:

https://www.reddit.com/r/EEENF/comments/mfe7gj/thoughts_after_operations_update/

https://www.reddit.com/r/EEENF/comments/mffmfs/more_info_on_mud_log_florescence_seen_in_the/

Going by the price, they look like buys. But if one or both are sells, isn’t it a good sign that that quantity can be sold without a problem at or above the ask?

And also, why do people assume there must be something underhand going on with trades of that size? We’ve seen massive volumes over the past week or so, billions of shares changing hands. If someone was up to no good, it’d have been easy (perhaps mush easier) for them to shift those shares in multiple smaller trades. And they’d be less likely to draw any attention to themselves.

I don’t believe anything suspicious going on, we’ve got a whole new dynamic of an additional market to factor in, and that market is seemingly hungry for shares.

14.53 - also quite a following building on this reddit group, which has a lot more members:

https://www.reddit.com/r/pennystocks/

Could be OTC brokers loading up. Now london is closed, the USA price does seem to be heading back up. Now around 1.9p equivalent

7.58 - are you accusing Erik of insider trading without having any evidence of that?

We’re on day 5 of the 3-5 day estimate. So likely we at or very close to the target depth. Next step will be wireline logging and side core samples, estimated to take 5-7 days.

Remember that there is no obligation on DW to give blow by blow updates on these steps. Just saying that the absence of an update does not mean we haven’t reached the TD on schedule. DW normally gives regular updates, but has a certain amount of discretion in the timing.

Some more on this - re: the comments that keep popping up about 1 OTC share = 10 shares.

As any sensible person would have realised by now, the prices and volumes don't make any sense if that was the case.

I've now found the origional document that was posted as 'proof' of the 1:10 claim:
https://sec.report/Document/0001019155-15-000144/

It is a document from back in 2015 for the name change of Tangiers to 88E, and relates to the now defunct OTC listing of TNGRY, not EEENF. Scroll down, and you're find the exact text that was posted online.

For TNGRY trading history, see here, note it is 88 Energy ADR:
https://uk.investing.com/equities/88-energy-adr-historical-data

15.06 - Brom, as usual you are correct :)

I was going on the data from yahoo finance, that doesn't go back any further than 18th November.
https://uk.finance.yahoo.com/quote/EEENF/history?p=EEENF

But on marketwatch, it goes back to 29th October. 184 shares traded on that day, then nothing else until 18th November
https://www.marketwatch.com/investing/stock/eeenf/download-data?startDate=11/1/2019&endDate=03/24/2021

14.10 I'm not sure any of us can claim to be experts in this, it has taken a bit of time to understand who it works in relation to the AIM/ASX listings. But looking into it a bit a more, it seems we have been listed on OTC markets before in different guises, but there has been very little trading under previous tickers.
1. TNGRY, 88 Energy - trading/listing looks to have stopped in June 2019 - https://www.investing.com/equities/88-energy-adr-historical-data
2. ETKEF, XCD Energy - trading/listing looks to have stopped in August 2020 - https://uk.investing.com/equities/entek-energy-ltd-historical-data?cid=22327

(2nd one not strictly us, but XCD which we took over, and listing seems to have stopped when the we completed the takeover)

General Overview here:
https://www.investopedia.com/articles/fundamental-analysis/08/pink-sheets-ottcb.asp

Listing requirements (from above link)
"Pink sheet-listed companies have no requirements to be listed. All a company needs to do to get listed on the pink sheets is to submit electronic Form 211, which is provided by the Financial Industry Regulatory Authority (FINRA). Usually, this is done on behalf of a company by a market maker."

I don't think its a coincidence that our current incarnation of EEENF looks to have appeared on the OTC market on the same day as the November Placing. My guess (and it is only a guess) is that one or more of the parties who took part in that placing were brokers who bought up shares to trade on the OTC market and created the current listing. That, together with the FO to a US based consortium may be the underlying reason for the interest now which we haven't had before.

Results look good, the PGM cost per oz surprised me, back below $500oz inc Windsor. ($470oz)

That is quite some profit margin we’re getting at the moment, and with pgm prices on an upward trend.